The Insolvency Service of the United Kingdom has just hired the first crypto expert to help trace digital assets and recover funds in criminal cases. Leading this assignment is Andrew Small, a former economic crime investigator with the police.
United Kingdom and Insolvency Service: Andrew Small is the new crypto expert
In the United Kingdom, the Insolvency Service has just hired its first crypto intelligence specialist: Andrew Small.
“Insolvencies with cryptocurrencies increase by 420% in 5 years. Over 500,000 pounds of cryptocurrencies in insolvency cases last year. Former police investigator tasked with tracing digital assets in criminal cases. The Insolvency Service hires the first cryptocurrency expert to help recover funds from bankruptcy cases.”
In practice, the former economic crimes investigator at the police, Small, will support the criminal investigations. It involves guiding the intelligence and the bankruptcy officials of the United Kingdom on how cryptocurrencies like Bitcoin and NFTs are stored, traded, and hidden.
Specifically, Small will help the Insolvency Service to track and recover digital assets from individuals in bankruptcy and from criminal cases.
United Kingdom and the crypto expert in the Insolvency Service: the strong increase in recent years
The new hiring of the crypto expert in the Insolvency Service is a response from the United Kingdom to the need to stop a phenomenon in continuous and strong increase.
In fact, it seems that in the last five years, insolvencies with cryptocurrencies have increased by 420%. In 2024-2025 alone, crypto insolvency cases were the equivalent of over 500,000 pounds, 364 times higher than in 2019-2020.
According to the data reported by the Financial Conduct Authority, the popularity of crypto has also skyrocketed in the United Kingdom. In fact, it is estimated that in 2024, 12% of the population will be a crypto holder, compared to 4.4% in 2021.
In this regard, Small said:
“In the United Kingdom, there has been a rapid increase in the ownership of cryptocurrencies and, at the same time, a similar increase in the ownership of crypto in cases of bankruptcy. The Insolvency Service has the duty to trace and recover money and assets from individuals or companies in cases of insolvency, and we work to return as much money as possible to creditors. Cryptocurrency is a recoverable asset, and my role will assist the agency by providing specialist knowledge on the types of cryptoassets available and the related technology used to buy, sell, and store them.”
British market and Bitcoin holders
The CoinCorner 2024 report on the British market revealed that over 51% of users in the United Kingdom have never sold their Bitcoin.
In practice, the British seem to follow the trend of HODL, which means owning Bitcoin (BTC) without giving in to the temptation to sell it over time.
The study was based on a sample of 2000 users and also confirmed that the average purchase of BTC is approximately 412 pounds per transaction.
On the contrary, the average sale stands at a clear 5,513 pounds, which is 10 times higher, marking a considered and strategic choice to sell only in favorable market conditions.
