This new partnership aims to recover crypto assets lost through various frauds;
Legal Funding specialist Heirloom Fair Legal (HFL) has joined forces with Insurance Specialist M2 Recovery Ltd (M2) to launch the world’s first fully funded, no-win no-fee recovery solution for UK victims of cryptocurrency fraud – giving defrauded investors a genuine, risk-free route to reclaim their stolen digital assets.
With blockchain analytics firm Chainalysis reporting that crypto-related thefts topped $2.2 billion in 2024 – up 21% on the previous year – demand for credible, affordable recovery options is surging. Yet for most victims, the path to justice remains blocked by cost. Recovery costs can exceed £250,000, and few funders or law firms can act entirely on a contingent basis.
This new partnership removes those barriers. By combining Heirloom Fair Legal’s legal funding expertise with M2 Recovery’s pioneering Legal Costs Insurance, victims can now pursue recovery with no upfront legal costs and no financial risk beyond commissioning a preliminary track and trace report to locate their stolen assets.
Commenting on the launch, Geoff Dover, CEO of Heirloom Fair Legal, said: “If you’ve been a victim of crypto fraud, the UK offers a robust legal path to recovery. This partnership removes cost and risk from the equation from those who have already suffered. We give these victims a fighting chance at fair justice.”
The model is simple but transformative. Heirloom Fair Legal funds the insurance premium, which activates M2’s policy to cover legal costs of up to £250k including all disbursements — including investigations, court fees, and expert reports. There are no upfront or out-of-pocket costs for claimants. M2’s policy therefore offers no-win no-fee insurance for stolen crypto assets worth £350,000 or more.
Victims who contact M2 are referred to a specialist panel of solicitors experienced in crypto asset recovery. After an initial review and track and trace report, the solicitor assesses the claim’s prospects. If recovery chances exceed 60%, the legal opinion and report are submitted for insurer review. Once approved, a provisional insurance policy is offered in exchange for a share of any recoveries.
The documentation is then independently reviewed by Heirloom Fair Legal, advised by RPC, one of the UK’s leading firms in crypto and civil fraud. Upon approval, HFL pays the insurance premium on the claimant’s behalf. From that point, the insurer covers the claimant’s legal fees and disbursements up to £250,000, under M2’s supervision.
Claims are assessed by RPC, led by Partner Dan Wyatt, a highly experienced commercial litigator specialising in civil fraud, asset tracing, and crypto disputes, and Christopher Whitehouse. Dan Wyatt is also Chair of the Crypto Fraud and Asset Recovery Network The first funded clients are represented by Rosenblatt, led by Partner Tom Spiller OBE, who has advised clients ranging from sovereign wealth funds and political parties to FTSE-listed firms and high-growth British businesses.
Neil Holloway, CEO of M2 Recovery Ltd, added:
“This is a world first — true no-win no-fee recovery for victims of crypto fraud. Our insurance structure protects claimants, funders, and law firms alike, making justice financially viable where it previously wasn’t.”
Tom Spiller OBE commented:
“Crypto fraud has become one of the defining challenges of modern litigation. This partnership offers a credible, commercially realistic way forward for victims.”
Dan Wyatt added:
“Crypto disputes demand speed, precision, and specialist insight. This model unites funding, insurance, and legal strategy in a way that allows victims to act decisively and effectively.”
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