In theory, it is possible to track and trace stolen bitcoin and other cryptocurrencies by analysing data on the blockchain. Nevertheless, the decentralised nature of these ledger databases complicates the process. Transactions on cryptocurrencies such as Bitcoin and Ethereum are public, meaning they can be examine by anyone. However, it’s only possible to trace the originating wallet of the transaction, not the actual owner of the wallet. Despite their heightened levels of privacy, cryptocurrencies like Bitcoin are predominantly utilised for legitimate and ethical purposes, as opposed to use by criminals and fraudsters.
Techniques and Methods
Valuable Techniques for Uncovering Information
Cryptocurrency tracing is a tool for uncovering critical information about fraudulent schemes and criminal activities. Techniques for successful tracing include ownership attribution, address clusters, IP addresses, transaction volumes, risk profiling, and total address values. These methods can reveal associations with criminal organisations or fraudulent schemes, identify the scale of a scam, flag interactions with certain entities, and aid in recovery efforts.
How we can help you
Been a victim of a crypto theft or fraud? With our expertise in cryptocurrency forensics, we can trace the path of your digital assets and provide the necessary assistance. Fill out the form below to get in contact with us and discuss your crypto investigation enquiries.
