Asset Reality Raises $4.9M to Help Companies Recover Stolen Crypto
Founded in 2020, the startup has developed a platform to help businesses and law enforcement recover and manage stolen digital assets.
Asset Reality, a startup that works to recover stolen digital assets, has raised $4.9 million to significantly expand its teams.
The round was led by Framework Ventures, with participation from TechStars, The Fund and SGH Capital. The funding round also included angel investors such as Chris Adelsbach, a founding partner of Outrun Ventures.
Co-founded in 2020 by Irishman Aidan Larkin, Asset Reality has created a platform for companies that investigate, manage and recover digital assets, such as cryptocurrencies and NFTs.
The start-up said its technology helps businesses and law enforcement to safely recover and manage assets seized by criminals, increasing the transparency of the entire process, while supporting victims. of this type of digital crime.
The business has grown rapidly since its inception, with team members in Ireland, the UK and the USA. The startup said its team had experience in some of the world’s first crypto asset recovery cases, such as assets seized from the Silk Road online drug store.
Asset Reality said it has already won customers among users of Consensys for MetaMask, as well as government and law enforcement agencies. The company plans to use the seed funding to triple the size of its engineering team and expand its operations and growth management teams.
CEO Larkin said the recent collapse of institutions such as FTXBlockFi and Celsiuscombined with exploits and hacks, have cost users worldwide billions of dollars.
He said these examples demonstrate a need for “sophisticated digital asset recovery tools” for both the public and private sectors.
“The existing asset recovery system only recovers around 1% of the proceeds of crime globally, with the emergence of digital assets adding more complexity to these efforts,” Larkin said.
“Asset Reality will be the primary solution to tackle the recovery of the missing 99pc and build trust within the crypto industry by giving victims access to much-needed solutions.”
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