Asset Reality, the end-to-end solution for digital asset recovery, has raised $4.91 million in a seed round led by Framework Ventures, a venture capital firm “known for its early entry into decentralized finance (DeFi).”
The investment round also “saw participation from TechStars; The Fund (who previously backed blockchain analytic companies like Chainalysis); SGH Capital (who were an early backer of TRM Labs) and included angel investors such as Chris Adelsbach, founding partner at Outrun Ventures. Asset Reality will utilize the funding from the round to triple the firm’s engineering team and expand its operations and growth management teams.”
Asset Reality, founded in April 2020 by a team of asset recovery practitioners and crypto investigators, has now “amassed an international team with experience resolving some of the earliest crypto asset recovery cases in the world, including managing and liquidating the cryptocurrency in the infamous Silk Road case.”
Designed specifically to improve asset recovery efforts in public and private sectors, Asset Reality helps companies and law enforcement agencies “more securely recover and manage criminally seized proceeds by increasing the transparency and audibility of the entire process, in addition to supporting victims of crypto crime.”
Already in use today by web3 giants Consensys for MetaMask users, in addition to several other government and law enforcement agencies, Asset Reality’s platform is a one-stop-shop for a variety of different services “such as digital custodians, investigation services, asset management, and auditing systems.”
Whether a user is a victim of a theft or an under-resourced government team, Asset Reality improves coordination “for the recovery of stolen or lost digital assets.”
Asset Reality provides “the public and private sectors two core services when it comes to tracking and recovering stolen digital assets.”
For the public sector, Asset Reality’s “ARMS” (Asset Recovery Management System) is “the world’s first cloud solution that allows users to track and audit portfolios of seized assets.”
Catering to the private sector, ARCS (Asset Recovery Customer Services) “provides a turnkey victim support service desk for web3 and crypto companies, that assists their users from r the moment they discover theft or fraudulent activity.”
The platform facilitates a user’s fraud journey, “supporting them from the beginning of an attack through the entire asset recovery process.”
Brandon Potts, Principal at Framework Ventures, said:
“The crypto industry needs a significant upgrade in the advanced security and risk management solutions that are relied upon to inspire integrity and maintain public trust. The decentralized nature of our industry often makes it difficult to quickly coordinate between multiple stakeholders across different entities, often in distinct legal jurisdictions. Asset Reality tackles this problem head on by providing law enforcement agencies, companies, and end users with a shared platform that streamlines the crypto asset recovery process.”
