Kalo assists in recovery of assets held by hackers in support of cryptotracing claim
Kalo recently assisted in the first of its kind and groundbreaking matter of ChainSwap Limited v Persons Unknown, where unidentified crypto hacker(s) made off with millions of US$ stablecoins. Kalo were able to successfully trace the proceeds of a significant hack through a Privacy Mixer (Tornado Cash) whereby the smart contract of a cross-chain bridge was compromised. Kalo’s expert investigative report and findings were used by the client and its legal counsel in the applications to the BVI Court seeking disclosure from the exchange and granting freezing orders.
Kalo’s on-chain investigative and tracing work performed in support of these proceedings were crucial to enabling this application and decision and the further steps thereon to making a successful recovery. In this article, Kalo and Harneys tell the tale of the hack through to its successful outcome.