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The UK’s Insolvency Service has appointed Andrew Small as its first-ever crypto intelligence specialist, a move reflecting the growing importance of digital assets in bankruptcy and criminal proceedings. In announcing the appointment, the agency emphasized its commitment to recovering cryptocurrency assets owed to creditors and combating illicit financial activity.
Small, a former police investigator with expertise in economic crime, will be embedded within the agency’s Investigation and Enforcement Services team. His primary responsibility is to trace and recover crypto holdings, particularly in criminal insolvency cases. Amid a surge in cryptocurrency usage among UK residents, his role is seen as vital to navigating the complexities of digital asset investigation and legal recourse.
Over the past five years, the number of insolvency cases involving crypto assets has risen dramatically—by 420%, growing from 14 cases in 2019/20 to 59 in 2024/25. During the same period, the value of crypto assets identified by liquidators jumped from around £1,400 to approximately £523,580—an increase of over 364-fold. This trend underscores the necessity of having a dedicated specialist to safeguard creditor interests.
The UK’s move mirrors broader financial market developments: roughly seven million adults (about 12% of the population) were found to hold crypto in 2024, compared to just 2.2 million in 2021. The Insolvency Service highlighted the vital role Small will play in educating investigators on a wide range of crypto assets and relevant technologies, from exchange platforms to wallet software.
Neil Freebury, head of intelligence at the Insolvency Service, noted that the appointment equips the agency to better support bankruptcy cases involving crypto. As regulators continue to propose frameworks for digital asset management, Small’s expertise positions the UK to more effectively recover digital value lost in fraudulent or bankrupt ventures.
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