Cryptocurrency Investigations
Cryptocurrency tracing and blockchain intelligence
We analyse public blockchain activity, map wallet relationships and document transaction flows so that clients, legal teams and authorities can see clearly what happened — and what options remain.
What cryptocurrency tracing involves
Public blockchains record transactions permanently and openly. Tracing is the disciplined reading of that record: following value from one address to the next, grouping addresses that appear to be controlled together, and noting where funds interact with services such as exchanges, bridges or payment processors that keep their own customer records.
The work is analytical rather than automated. Tooling helps identify flows at scale, but the interpretation — which paths matter, which patterns are consistent with a described scheme, which observations are uncertain — is documented by an analyst and attributed to its sources.
How blockchain transaction analysis works, at a high level
An investigation starts from identifiers you provide: an address you sent funds to, a transaction hash, a platform name, or a payment reference. From there, analysts follow onward transfers, record timing and amounts, and build a graph of the addresses and services involved.
Patterns matter more than individual transactions. Consolidation into a single address, rapid splitting across many addresses, repeated interaction with a particular service, or timing that aligns with your communications can all be significant. Findings are presented as flow diagrams, timelines and transaction tables so that another analyst could follow the same path.
Tracing is not recovery
These are separate things and it is important to be direct about the difference. Tracing establishes where value moved and which services were involved. Recovery, where it is possible at all, generally requires legal process — a court order, a regulatory or law-enforcement request, or the voluntary cooperation of a custodian holding the funds.
We produce the analysis and documentation that makes those steps possible. We do not take custody of funds, we do not negotiate with counterparties on your behalf, and we do not promise that assets will be returned.
How exchange records and off-chain information affect an investigation
Blockchain data rarely identifies a person on its own. Attribution usually depends on records held off-chain: account details at an exchange, IP logs, payment rails used to acquire the assets, correspondence, or platform registration data. Those records are typically released only in response to lawful requests.
For that reason, an investigation frequently produces two outputs: the on-chain analysis, and a documented basis for a request to a specific third party — prepared for your attorney or for the relevant authority to submit.
Common challenges
Mixing services and privacy protocols can break a clean transaction path. Cross-chain bridges move value between ledgers with different record structures. Privacy-focused assets may not expose transaction detail at all. Records held by defunct or non-cooperative platforms may be unavailable, and jurisdictional differences affect what can be requested and from whom.
None of these necessarily ends an investigation, but each affects what can be established. We identify these constraints early and state them in the report rather than presenting a partial path as a complete one.
Information That May Help an Initial Review
Bring whatever you already hold. Never send passwords, private keys, seed phrases or account credentials.
- Wallet addresses
- Transaction IDs
- Dates and amounts
- Exchange or platform information
- Email addresses and usernames
- Screenshots
- Communications
- Payment instructions
- Bank or payment records
- Relevant websites and domain names
- Police or attorney reference numbers, if applicable
What a client may receive
- Transaction flow diagrams showing the movement of value
- A chronological timeline of relevant transactions and events
- Transaction tables with hashes, dates, amounts and observed counterparties
- Identification of services and platform types encountered along the path
- Analytical findings that separate observation from interpretation
- A clear statement of limitations and unresolved questions
- Documentation prepared for use by your attorney, insurer or the relevant authority
Important: Blockchain analysis can identify transaction activity and investigative leads, but tracing does not guarantee identification of a person, freezing of assets, or recovery of funds. Transaction tracing may identify blockchain activity and potential investigative leads. It does not guarantee identification of an individual, asset freezing, legal recovery, or financial recovery.
Related Capabilities
Cryptocurrency matters rarely stand alone
Digital-asset investigations frequently intersect with fraud analysis, digital forensics and litigation support. See our fraud and asset investigations and cybercrime and digital forensics pages for the adjacent work.
New Claim
File a new claim
Submit a short, confidential outline of your matter. We will tell you honestly whether investigative work is realistic before anything is agreed.
- Reviewed by an investigator, not an automated system.
- No credentials, private keys or seed phrases — ever.
- No obligation, and no guaranteed outcome is implied.
Explore cryptocurrency tracing for your matter
A short consultation is usually enough to tell you whether tracing is likely to add value in your circumstances.