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ARTICLE · 12 MARCH 2018

A Race Against Time: Can Common Law Keep Up With The Crypto-World?

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Barely a week goes by when there isn't an article in the press about a new 'crypto-crime'. Only yesterday, it was discovered that scammers had impersonated Elon Musk by hacking his personal twitter profiles.

United KingdomTechnology
Lesley Timms
Lesley Timms
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Barely a week goes by when there isn't an article in the press about a new 'crypto-crime'. Only yesterday, it was discovered that scammers had impersonated Elon Musk by hacking his personal twitter profiles. The scammers convinced people to send small amounts of cryptocurrency in return for a much larger sum back.

Unfortunately some people fell for it. But in this relatively new area, is there a way for way for victims to recover their losses? Can they prosecute the scammers and get their 'money' back?

What will the courts make of crypto-coins?

Cryptocurrencies present a number of problems when it comes to enforcement, including defining precisely what it is that has been lost (are 'crypto-coins' money?) and whether you can prosecute those responsible when you don't necessarily know who they are.

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