Using a combination of Open-Source Intelligence (OSINT) and Know Your Customer (KYC) data collected by the exchanges, a PACA investigator can work to identify the owner of a cryptocurrency address. From there, law enforcement can issue subpoenas and try to recover the funds.
Cryptocurrencies have become a popular target for cyber thieves. Since cryptocurrency transactions cannot be reversed, criminals feel confident that after they have initiated a fraudulent transaction the stolen funds are secured. However, this is far from the case.
Cryptocurrencies are based on a public blockchain. This means that the flow of illicit funds can be traced. The act of tracing illicit funds through the blockchain is known as a cryptocurrency investigation or sometimes shortened to a crypto investigation.
A cryptocurrency investigation uses advanced techniques to follow the trail of illicit funds. During a cryptocurrency investigation, a certified PACA investigator will carefully look through the transactions posted to the blockchain. From there, the PACA investigator will work to discover what address contains the stolen funds.
After identifying an address, the next step in a crypto investigation is to try and unmask the owner of the address. Using a combination of Open-Source Intelligence (OSINT) and Know Your Customer (KYC) data collected by the exchanges, an investigator can work to identify the owner of a cryptocurrency address. From there, law enforcement can issue subpoenas and try to recover the funds.
There are many reasons both governments, organizations, and financial institutions should highly consider joining PACA. PACA employs private investigators that are certified in the field and experienced using the same database platforms deployed by the U.S. Department of Justice.
⚔️ Individuals and the law firms that represent them may need the help of a certified PACA investigator to help trace stolen or hidden funds.
⚔️ Companies may need to initiate a cryptocurrency investigation if they believe financial crimes, such as embezzlement, were committed using cryptocurrency.
⚔️ Financial institutions and merchants who accept cryptocurrency may need the expertise of a cryptocurrency investigator to ensure they are maintaining cryptocurrency compliance.
⚔️ Government agencies and law enforcement departments may need a certified and highly trained crypto investigator to assist with investigations.
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