Belgian Law Enforcement Agencies Engage Asset Reality and Digivault for Crypto Security Management
- Trade Finance , Asset Management
- 15.02.2022 03:00 pm
Digivault, a leading digital asset custody provider, as part of EQONEX, and Asset Reality, the world’s first end-to-end solution for recovering, managing and realizing seized crypto assets, have been engaged by Belgian law enforcement agencies to provide recovery, storage and management services for seized crypto assets.
Since forging a ground-breaking partnership in 2021, Digivault and Asset Reality have been driving efforts to bring safety and security to the digital asset industry. Together, they are engaging with a growing list of government and law enforcement agencies across the UK and Europe.
Digital asset trading and investment have increased exponentially in the past two years, creating a new security challenge for governments, law enforcement agencies, public and private sector clients alike. Government investigations and seizures have become increasingly commonplace. In the past two weeks alone, the Justice Department in the U.S recovered $3.6B in bitcoin, and Her Majesty’s Revenue and Customs (HMRC) in the UK recovered three NFTs.
Firms like Asset Reality and Digivault, which bring together experts from across security, defence, and technology, have been building bespoke solutions to mitigate risk and set new industry standards.
Digivault CEO Robert Cooper said, “Digivault’s core mission is to deliver a custody solution that removes a lot of the risk, technical headaches and ultimately stress of holding cryptocurrencies for our broad range of clients. But for our public sector clients, we have been even more cognisant of their need for the highest possible standards of governance, accreditations, and assurance. By building to their exacting standards, our entire client base benefits.”
“We are proud of the work we do to help our clients to safely participate in the crypto opportunity, but we are particularly proud of the role we play alongside Asset Reality to support governments and agencies to safeguard the industry more broadly,” Robert said.
Asset Reality Co-Founder Aidan Larkin said, “As asset seizures involving crypto assets continues to increase, it is vital that agencies have the infrastructure in place to recover, store and realise these assets in a transparent, responsible and insured way. Acting as a seized asset co-ordinator, we have built a platform that connects users with a full range of crypto asset recovery services from reporting and investigating fraud involving crypto assets, through to finding suitable custodians to store and realise seized crypto.”
Digivault is an FCA registered custodian, conforming to institutional-grade security accreditation standards and stringent governance processes.
Launched in 2020 by an experienced team of crypto asset recovery practitioners, Asset Reality, alumni of the global accelerator, Techstars, was created to support law enforcement agencies as well as public and private sector clients in navigating the complex asset recovery process including investigations, managing, and realising seized digital assets, including cryptocurrencies.
As part of the partnership, Digivault and Asset Reality are also working together to drive greater awareness of industry threats, and advocate for sensible industry compliance standards.