M2 Recovery has expanded its innovative crypto insurance policy with the introduction of after-the-event legal expenses insurance. This new addition supports individuals who have already fallen victim to crypto theft, offering expert assistance in recovering stolen assets.
The inclusion of reactive solutions comes at a pivotal time, as the crypto industry faces a surge in scams and fraud. This initiative underscores M2 Recovery’s dedication to protecting crypto investors and providing comprehensive support in a rapidly evolving and vulnerable landscape.
Recent research from the Financial Services Compensation Scheme (FSCS) reveals a surge in first-time crypto investors attracted by the promise of quick returns. However, data from TRM Labs shows a worrying trend: the value of stolen crypto worldwide more than doubled in the first half of 2024. With many newcomers entering the crypto space, more people are expected to fall victim to scams in the future.
This troubling trend underscores the growing sophistication of cybercriminals and the urgent need for robust protective and responsive measures in the digital asset space. M2 Recovery’s newly expanded insurance policy is designed to meet this critical demand, offering essential protection for crypto investors.
Neil Holloway, Founder and Managing Director of M2 Recovery, shared his thoughts on the product expansion:
“Here at M2 Recovery, the safety and security of your crypto remains our top priority. I have worked in the insurance industry for over 45 years, and I have never seen an insurance product as unique and innovative as our services. We were the first company in the world to offer legal expenses insurance for crypto, and we are now the first to provide this protection to investors who have sadly lost their assets. This is a game-changer for the industry, and we are proud to lead the way in crypto legal insurance.”
Louise Abbott, Director of Legal Services at M2 Recovery, added:
“As a specialist crypto lawyer with over 10 years of experience, I have witnessed the increasing number and sophistication of scams within the crypto space. These cases not only cause financial harm but also leave lasting emotional damage. With the rising number of crypto fraud cases I handle daily, it’s clear that demand for secure, after-the-event legal expenses insurance has never been higher.
The surge in crypto fraud highlights the need for trusted recovery solutions, and I am thrilled we can now offer this vital service. As the industry grows, so does our commitment to protecting our clients at every stage.”
