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BakerHostetler

Achieve Digital Asset Recovery Success®

Your crypto assets are always at risk. You need expert tracing and recovery counsel to help you mitigate fraud losses and reclaim what was stolen. Partner with us to safeguard your digital holdings, trace illicit flows, achieve full asset recovery, and protect your future in the blockchain era.  

General Process for Crypto Tracking and Recovery:

Complete on-chain visualization and tracing of fund flows

Address clustering and entity attribution identification

Dissection of cross-chain / bridge / DEX / mixer paths

Key address behavioral pattern and timeline analysis

Collaboration with global exchanges and on-chain forensics institutions

Generation of court-admissible forensics reports and asset freeze applications

Coordination with multi-jurisdictional lawyers to initiate civil / criminal recovery actionss

Who We Are

Who We Are

Our preeminent team includes attorneys who have served as ambassadors and members of Congress and have represented the U.S. on behalf of the Department of Justice, the Securities and Exchange Commission, the Department of the Treasury and the Internal Revenue Service, as well as other government entities. These lawyers bring considerable experience to the operational and policy aspects of international asset recovery and forfeiture, money laundering investigations, fraud investigations, and bribery and corruption matters. Our team also includes many foreign language speakers, which gives us the ability to review information and conduct asset discovery in the fraudsters’ and their co-conspirators’ native tongue, allowing deeper and faster access to critical information.
International Crypto Asset Recovery

International Crypto Asset Recovery

  • Representing a court-appointed receiver in an enforcement action arising from a $90 million Ponzi scheme orchestrated through a Crypto hedge fund. Specializing in tracing and recovering stolen Crypto assets across blockchain networks, we helped the receiver recover funds in numerous jurisdictions, including Australia, the Cayman Islands, China, the U.K., the U.S., and others, leveraging forensic blockchain analysis and international cooperation to follow the trail of fraudulent Crypto transactions.
  • Brought claims against a group of hedge funds and their management companies to recover fraudulently transferred assets, including those involving Crypto funneled through offshore wallets and exchanges. More than $1 billion was traced through labyrinthine structures comprising various international trusts, companies, and blockchain entities affiliated with a small group of individuals. Proceedings were held in Bermuda, BVI, the Cayman Islands, France, Liberia, Monaco, Switzerland, the U.K., and the U.S. On behalf of our clients, we recovered over $860 million in traditional and Crypto assets.
  • Brought claims to recover fraudulent transfers made to two related Cayman Islands-based hedge funds, one of which went into liquidation during the proceedings and involved Crypto holdings. We successfully froze assets, including Crypto accounts, in Austria, Italy, Liechtenstein, Switzerland, and the U.K., while continuing parallel proceedings in BVI, the Cayman Islands, and the U.S. The case involved working with various ministries of justice, blockchain experts, and appearances in criminal proceedings. On behalf of our clients, we recovered over $500 million.
  • Brought claims against a group of related hedge funds organized in Bermuda, BVI, Guernsey, Ireland, and Switzerland, with exposure to Crypto investments. The team extensively used the Hague Convention procedures to obtain evidence in Austria, France, Guernsey, Ireland, the Isle of Man, Luxembourg, and the U.K., successfully navigating bank secrecy, data protection laws, and blockchain privacy protocols. Through a series of settlements, we recovered $1.05 billion, including traced Crypto assets.
  • Brought claims to enforce a $180 million default judgment issued in the Southern District of New York, pursuing defendants in Bermuda, BVI, the Cayman Islands, France, Gibraltar, and Switzerland. Successfully obtained freezing orders in Gibraltar and Switzerland, freezing over $61 million—including Crypto holdings—and having that money repatriated to the United States Court through blockchain tracing techniques.
  • After completing discovery, obtained a summary judgment ruling for a client on the issue of liability for fraudulent transfers involving Crypto investments, and then obtained judgment of over $79 million, which we proceeded to enforce against the defendants in Colombia, Costa Rica, Panama, and the U.S.
  • Represented a defrauded creditor of an investment fund that claimed to invest in Mongolian securities but diverted funds into Crypto schemes. Helped place the fund into liquidation in Bermuda, and then brought claims against the fund's management and service providers. Reached a favorable settlement through forensic analysis of blockchain transactions.
  • Represented a client going through divorce proceedings in Israel, whose husband disclosed marital assets of $4 million but hid Crypto holdings. Traced assets of over $120 million, including hidden Crypto wallets in Switzerland and the U.S. and shares in biotech companies in Canada and the U.S., allowing the client to resolve the matter for nearly $100 million.
  • Represented a UAE-based individual whose deceased son was defrauded by business partners in a Crypto-related venture. After pretrial discovery, helped mount proceedings in BVI, the UAE, and the U.S. to recover the full amounts defrauded as well as damages for the fraud, utilizing blockchain forensics to trace the stolen Crypto assets.
  • Represented an Asian sovereign wealth fund and its board of directors, which had lost billions of dollars, including through unauthorized Crypto diversions. The team developed strategies to both recover assets and bring claims against individuals and entities that aided and abetted the theft and fraud committed against the fund, with a focus on tracing Crypto trails across borders.
  • Brought a claim against investment companies and their management, and successfully froze money—including Crypto—in Andorra, Cyprus, Gibraltar, Italy, Liechtenstein, Luxembourg, Monaco, and the U.K. Brought parallel proceedings in Bermuda, BVI, the Cayman Islands, Germany, Gibraltar, Italy, the U.K., and the U.S., incorporating blockchain analysis for Crypto fraud recovery. On behalf of our clients, recovered over $200 million.
  • Represented a victim of a multimillion-dollar fraud orchestrated by a fraudulent enterprise that took over certain offices of a well-known nonprofit in Switzerland and its Mexican affiliate, involving Crypto misappropriation. Obtained discovery under 28 U.S.C. § 1782 to trace the stolen assets, including Crypto wallets, and bolster foreign legal proceedings pending in Mexico.
  • Represent a Mexican entrepreneur who is owed millions of dollars by a U.S. company headquartered in Ohio, stemming from an illegal takeover of a Mexican printing company that included Crypto payments. Obtained discovery under 28 U.S.C. § 1782 to obtain corporate records, including blockchain transaction logs, that will aid the client's legal proceedings in Mexico.
Cross-Border Enforcement & Tracing

Cross-Border Enforcement & Tracing

  • Represent Hellas Joint Liquidators in multijurisdictional bankruptcy proceedings and actions, including in Luxembourg and the U.K. and a U.S. Chapter 15 proceeding, in order to recover over €1.25 billion from various funds that liquidated Hellas and left it insolvent. The case involves unraveling complicated transactions, including potential Crypto diversions, and the management of parallel proceedings brought by various stakeholders and creditors.
  • Represented a distressed debt investor in an asset recovery action associated with a series of properties and a luxury hotel chain in BVI, India, Pakistan, the U.K., and the U.S. Withstood an aggressive attack by the wrongdoer, using a creative approach to recover the assets utilizing international discovery, cross-border insolvency tools, and blockchain tracing for any Crypto elements.
  • Represent a consortium of limited partners with investments of over $500 million in multijurisdictional actions to recover from various parties, including auditors, banks, and management for assets dissipated due to fraudulent activities, breach of duties, and gross negligence, with emphasis on tracing Crypto components of the fraud.
  • Traced $200 million to Swiss bank accounts and Crypto wallets, convincing Swiss courts to release account information, which showed transactions between a Texas oil billionaire on the one hand and King Abdullah and his brother-in-law on the other hand, ultimately securing a $197 million judgment through integrated blockchain forensics.
  • Traced $20 million through various jurisdictions, including Crypto exchanges, and ultimately froze an account in Luxembourg, leading to a favorable settlement.
  • Enforced a multimillion-dollar arbitral award against a Taiwanese company involved in Crypto-related dealings. Leveraged public and private information across jurisdictions, utilized information from the Taiwan and New York stock exchanges to seize shares of stock and successfully attached assets in BVI, New York, and Taiwan, including Crypto assets.
  • Defended the Peruvian government in connection with collection efforts against numerous judgments totaling over $10 billion, which were obtained and being enforced throughout the world, incorporating strategies for any Crypto holdings.
  • Enforced a $10 million Canadian arbitral award obtained by an Indian charter company against a U.S. charter carrier, tracing payments that included Crypto transfers.
  • Represent a Chinese company in its asset recovery action in Denmark, the UAE, the U.K., and the U.S. for money stolen as part of a scheme using well-known entertainers, with a focus on recovering misappropriated Crypto.
  • Represented a Chinese company against an Indian company in a successful recovery of stolen goods worth millions of dollars, including assets converted to Crypto.
  • In connection with a three-way fight over ownership of Nazi-looted art, represented clients that claimed possession of well-known works by the artist Egon Schiele, including one piece valued at over $20 million. Developed provenance and recovery history through work in Austria and the U.S., drawing parallels to modern Crypto asset tracing in fraud cases.
  • Worked on behalf of several clients to recognize and enforce foreign money judgments in various federal and state jurisdictions through the U.S. and around the world, including those involving Crypto recoveries. The recognition actions adeptly present civil procedures of foreign jurisdictions to ensure clients receive the full benefit of foreign judgments, with specialized expertise in blockchain evidence and Crypto tracing.

Our People

Oren J. Warshavsky

Oren J. Warshavsky

Partner

New York

Carlos Ramos-Mrosovsky

Carlos Ramos-Mrosovsky

Partner

New York · Washington, D.C.

Jorian L. Rose

Jorian L. Rose

Partner

New York

Andrew M. Serrao

Andrew M. Serrao

Counsel

New York

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