Investment Fraud & Boiler Rooms Archieven

Case law review blockchaintracing and freezing crypto account 2026

ECLI:NL:RBMNE:2026:1482 Rechtbank Midden-Nederland, 31-03-2026, C/16/605902 / KG ZA 26-30 Summary proceedings. Default. Disclosure of name and address information and freezing of account by platform of crypto currency due to possible investment fraud (boiler room fraud) user account. International civil law. Jurisdiction article 6 under e Rv. Dutch law applicable (cryptoexchange: Bitfinex). ECLI:NL:RBDHA:2026:7315 Rechtbank Den Haag, 18-03-2026, c/09/694014 HA ZA 25-972 Jurisdiction of Dutch court for boiler room fraud. Jurisdiction incident of Kyrrex UK Ltd which [...]

Hupkes advocaten2026-04-14T20:01:56+01:0014 April 2026|Asset Recovery, Cryptocurrencies, Duty of Care Banks, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Preservatieve Attachment, Uncategorized|

News on the Kyrrex case

In this news brief, we are posting links to news stories about the Kyrrex case. The Kyrrex case is about whether a cryptoexchange has a duty of care to third parties who have been victims of boiler room fraud, where the fraudsters use Kyrrex to launder the stolen cryptocurrency. There is no case law yet that clarifies the liability of exchanges when fraudsters use an exchange. One peculiarity is that Kyrrex is a "nested service." [...]

Hupkes advocaten2026-04-16T15:56:18+01:0011 April 2026|Asset Recovery, Cryptocurrencies, Financial law, Investment Fraud & Boiler Rooms, Liability|

Nested services and liability in crypto fraud: a blind spot in the chain

Increasing role of nested services in crypto fraud In recent crypto fraud cases, we observe a clear trend: nested services play an increasingly prominent role in trading crypto assets obtained from fraud. These services receive crypto currency from fraudsters, sell it through accounts on major exchanges to bona fide third parties, and then distribute the proceeds to a hidden user of the nested service. These users remain out of view to the exchange on which [...]

Hupkes advocaten2025-05-01T21:09:40+01:002 May 2025|Asset Recovery, Cryptocurrencies, Duty of Care Banks, European Bank Account Preservation Order, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Liability, Preservatieve Attachment, Unlawful Act|

Recovering stolen crypto: the final steps

In our previous blogs, we outlined how stolen or fraudulently misappropriated cryptocurrency can be traced using blockchaintracing. We showed how we successfully obtained multiple "freezing orders" from Dutch courts in 2023 and 2024. A high-profile example was the case against Huobi in 2023, in which the court imposed a fine of as much as €2,000,000 to ensure that the account of the fraudulent customer was actually frozen. In summary proceedings, we ask not only for [...]

Hupkes advocaten2025-03-23T21:32:26+01:0023 March 2025|Asset Recovery, Cryptocurrencies, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Liability, Summary Proceedings, Unlawful Act|

CFD broker Trade Capital Markets must refund deposit to duped investor

A Cypriot CFD broker operating in the Dutch market must refund the deposit to an investor that will evaporate its assets. This is the outcome of proceedings at the North Holland District Court. The case concerns a dispute between a retail investor and Trade Capital Markets (TCM) Ltd, an online broker based in Cyprus. Our client entered into an agreement with TCM in January 2020 to invest in CFDs (Contracts for Differences). In the period [...]

Hupkes advocaten2025-03-13T19:14:17+01:0013 March 2025|Contracts for Difference (CFD Providers), Duty of Care Banks, Financial law, Investment Fraud & Boiler Rooms, Judgments, Uncategorized, Unlawful Act|

Summoning defendant via email in crypto fraud cases

As an attorney in crypto fraud cases, I regularly see how crucial speed is in securing or not securing stolen digital assets. One of the biggest challenges here is the timely summoning of foreign cryptoexchanges for so-called "freezing orders" or pseudo-conservatory attachments. These legal tools are essential to freezing the accounts of suspected fraudsters, but traditional methods of summoning can be too slow in the fast-paced world of cryptocurrency. Ordinary summoning is too slow Fraudsters [...]

Hupkes advocaten2025-03-05T22:38:06+01:005 March 2025|Asset Recovery, Cryptocurrencies, European Bank Account Preservation Order, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Preservatieve Attachment, Summary Proceedings, Unlawful Act|

Cryptoexchange Kraken must make full disclosure about fraud

As a specialized firm in crypto fraud cases, we regularly see how victims struggle to recover their stolen digital assets. Although we have explained in previous blogs how accounts at cryptoexchanges can be frozen via a Dutch court order, even at foreign exchanges, this measure sometimes comes too late. Fraudsters have sometimes been able to clear accounts before any action can be taken. Every case is a race against the clock. An additional problem is [...]

Hupkes advocaten2025-01-07T14:37:14+01:007 January 2025|Asset Recovery, Cryptocurrencies, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Unlawful Act|

Case law overview blockchaintracing & freezing crypto accounts 2024

In 2024, several judgments have been rendered on crypto fraud, ordering cryptoexchanges to freeze accounts of (suspected) fraudulent users and to provide name and address details of these users. One of the challenges in these types of cases is the summoning of the defendant, who is often located in a (far) foreign country - often also in a country not party to the Hague Convention on service of process. In that situation, it can take [...]

Hupkes advocaten2024-12-30T17:54:59+01:0030 December 2024|Asset Recovery, Cryptocurrencies, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Preservatieve Attachment, Summary Proceedings|

The ‘ex parte’ order measure: a cross-border freezing order of cryptocurrency

As a specialized attorney in crypto-fraud cases, I increasingly see complex, cross-border cases where traditional legal means fail. A recent case illustrates how creative legal thinking and the flexibility of the Dutch legal system can lead to effective solutions for victims of international fraud. Traditional boiler room fraud using cryptocurrency as means of payment In this case, victims from he UK, my clients, were targeted by a sophisticated boiler room fraud. The scammers, believed to [...]

Hupkes advocaten2026-02-12T21:02:23+01:0014 December 2024|Asset Recovery, Cryptocurrencies, Duty of Care Banks, European Bank Account Preservation Order, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Summary Proceedings, Unlawful Act|

Applicable law in international investment fraud: preferably Dutch

International cases present specific challenges, particularly in the area of applicable law. A recent ruling shows how the legal system deals with these challenges. When victims of investment fraud live abroad, while the recipient of the funds is based in the Netherlands, the question arises as to which law applies. The law of the victim's country of residence (in this case, the United Kingdom) is then the main rule under private international law because the [...]

Hupkes advocaten2026-02-12T21:03:36+01:0027 July 2024|Asset Recovery, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Liability, Summary Proceedings, Uncategorized, Unlawful Act|

European bank attachment in practice

The European Account Preservation Order (EAPO), based on Regulation (EU) No. 655/2014, allows creditors to make cross-border attachments of bank assets in EU member states. The instrument simplifies securing claims by filing an application in the national court, without the need for a separate procedure abroad. An EAPO attachment is particularly valuable in cases where swift action is required to prevent a debtor from hiding assets to frustrate recovery. The CFD broker case: seizure of [...]

Hupkes advocaten2024-03-29T15:53:18+01:0029 March 2024|Asset Recovery, Contracts for Difference (CFD Providers), European Bank Account Preservation Order, Financial law, Investment Fraud & Boiler Rooms, Preservatieve Attachment, Uncategorized|

Do investors and CFD brokers have a conflict of interest in contracts for difference?

A lot goes wrong when investing in CFDs. Our firm has handled more than 60 cases in recent years against foreign providers of CFD investments. The AFM and the Fraud Helpdesk warn about unreliable providers. What exactly is the problem with these investment products? What is a CFD? Many inexperienced investors who get into "contracts for differences" think that a CFD is a type of stock with a buyer and a seller. The seller [...]

Hupkes advocaten2026-02-12T21:06:53+01:0012 March 2024|Contracts for Difference (CFD Providers), Financial law, Investment Fraud & Boiler Rooms|

Does a lawsuit against a CFD broker stand a chance of success?

What is the chance of success of a lawsuit against a CFD broker? We are often asked that question! In this article, we clarify what kind of behavior by a CFD broker can be grounds for the court to order the broker to refund the deposit. We also explain the difference between a licensed CFD broker and a boiler room selling CFDs. The three points for a succesfull lawsuit In the following three situations, a [...]

Hupkes advocaten2026-02-12T21:08:13+01:004 March 2024|Contracts for Difference (CFD Providers), Cryptocurrencies, Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms|

The investment fraudster’s roadmap: 5 tricks a boiler room uses to defraud customers

How do you know if you have fallen into the nets of an investment fraudster, an online scam or an untrustworthy CFD broker? All these scams work according to the same playbook; step by step, the investor, who is actually a prey, is lured into the trap. Phase 1: the positive phase In the first stage, the investment fraudster does not show his true face, but presents himself as friendly and helpful as possible. He [...]

Hupkes advocaten2023-02-01T12:30:09+01:0015 February 2024|Contracts for Difference (CFD Providers), Fraud & Deception, Investment Fraud & Boiler Rooms|