Expert Reports on Cryptocurrency Traceability

What is the purpose of a cryptocurrency traceability expert report?

A cryptocurrency traceability expert report uses advanced tools to track the path of cryptocurrencies from their origin to their final destination, identifying the digital wallets and platforms involved in the scam. This helps to uncover the perpetrators and their methods of moving funds.

The importance of this report lies in its ability to provide strong evidence that can be used in legal proceedings, facilitating the recovery of defrauded money. It is particularly useful for victims of investment platform scams or those who have lost money in cryptocurrency transactions.
In summary, a cryptocurrency traceability expert report helps to trace the path of scammed cryptocurrencies, identify the fraudsters, and assist in the recovery of funds, serving as a crucial tool for both victims and their lawyers.

Applications of expert reports in fraud cases

• Investment platform scams:

Investment platform scams are common in the cryptocurrency world. Typically, clients are lured by promises of fixed monthly returns (e.g., investing over €1,000 in 60 days for a certain percentage, or over €5,000 in 120 days for another percentage).

The process may start with the client filling out a form on a platform, followed by contact from an agent, or receiving messages via WhatsApp or Facebook about investment opportunities. Clients open accounts on exchanges like Binance, Bybit, Kucoin, Bitget, Mexc, Crypto.com, or Coinbase to make deposits in cryptocurrency.

After depositing their capital, clients can track their investments on the platform. Usually, they see gains, which are often fabricated by manipulated graphs. When clients attempt to withdraw their funds, they are asked to pay a deposit equivalent to 30% of their investment and ga y que nunca recuperará su capital. 

• Tinder girl scam:

These scams begin with a match on Tinder. The scammer, often using photos of models or individuals with Asian features, builds a relationship over weeks or months. Eventually, they introduce the idea of investing in cryptocurrencies or a particular platform, leading the victim to deposit funds, only to lose them to the scam.

• Cryptocurrency transfers:

Scammers exploit users storing their crypto keys in the cloud or trick them through phishing attacks to gain access to their accounts and withdraw all funds.

• Fake blockchain messages:

Victims receive emails that seem to be from Blockchain, claiming they have an account with a certain amount of Bitcoin and must pay a network fee to access it. This is a scam, as real network fees are minimal, and wallet information is anonymous.

• Task platform scams:

This type of scam is becoming increasingly common in Spain. Typically, a UK or non-Spanish number contacts the victim, offering them the opportunity to work from home either part-time or full-time. They promise earnings of €600 per week for performing various tasks, and claim that by investing capital, they could generate more than €4,000 per month. 

In this scam, the victim is told they need to complete specific tasks to receive payment. After completing each task, they are required to send screenshots to an agent on Telegram, who pays them for each task completed. These tasks usually involve liking photos on Instagram, TikTok, and YouTube. Payment is made via Bizum, but the funds come from other victims who are also caught up in the scam. 

The scam is exposed when the victim finds their balance blocked or is told they cannot continue working unless they invest a certain amount of money. After making this investment, the system briefly resumes, but soon more deposits are requested. Eventually, the victim realizes it’s a scam and loses a significant amount of money.

• Scams in mining programs through decentralized wallets (Trust Wallet/Metamask):

This type of scam begins when an agent contacts an investor and presents them with forged documents from Binance, claiming to be partners and backed by the company. The agent assists the victim in setting up a decentralized digital wallet, such as Trust Wallet or Metamask, and connects it to the fraudulent platform via a smart contract. 

The victim deposits funds into their decentralized wallet, and the system pretends to “mine” with the capital, generating daily rewards. Fake “USDT” tokens are used to show the victim that they are earning profits daily, although these USDT tokens have no real value. Everything seems to be working smoothly for several days, but eventually, the scammers withdraw all the funds from the victim’s wallet, leaving them with nothing.

• Scams through smart contracts:

These scams target those familiar with crypto. By mistakenly connecting their wallet to a fraudulent Web 3.0 site, they allow scammers to drain their funds via a smart contract.

• Determining if the capital has truly been invested:

We handle many cases where clients simply want to know if the capital they have invested in an investment platform is secure or if they have been scammed and their funds are not actually being invested. Through our On-Chain analysis, we can determine whether the client’s deposited funds remain in their digital wallet or if, on the contrary, they have been transferred through multiple wallets and ultimately withdrawn entirely.

Benefits of Block Traceability’s expert reports

Block Traceability’s cryptocurrency tracing forensic reports offer multiple benefits for both individuals and law firms.

These benefits are notable for their ability to provide robust technical evidence and their relevance in legal proceedings.

• Technical evidence:

Our forensic reports provide detailed technical evidence that can be used in court proceedings to demonstrate the traceability of cryptocurrency transactions. This evidence is crucial for identifying those responsible for scams and supporting our clients’ legal claims.

• Beneficiary identification:

One of the most critical aspects of our reports is the ability to identify the digital wallets that have received the stolen funds. By tracking these transactions, we can directly pinpoint the beneficiaries, facilitating the recovery of funds and the legal pursuit of the fraudsters.

• Legal support:

We provide ongoing support to our clients and their attorneys, ensuring that the reports are clear and can be effectively presented in court. Our team is available to answer any questions and assist in the interpretation of the forensic report.

• Fund recovery:

The comprehensive traceability of cryptocurrencies in our reports significantly increases the chances of recovering stolen funds. By clearly identifying the flow of cryptocurrencies, we provide a clear path to reclaim the assets.de las criptomonedas, proporcionamos un camino claro para reclamar los activos.

Common types of cryptocurrency scams

There are various types of cryptocurrency scams that affect both individuals and businesses. Below are some of the most common ones: 

• Investment scams:

Investment scams on platforms are very common. They promise high and quick returns on investment, but once they receive the funds, the platform disappears, taking the investors’ money with it. 

• Phishing:

Phishing involves sending fraudulent emails or messages that appear to come from legitimate sources, requesting private information such as access keys or account details. Once this information is obtained, scammers access the digital wallets and transfer the funds to their own accounts.

• Ponzi schemes:

In a Ponzi scheme, scammers use the money from new investors to pay earlier investors, creating the illusion of a legitimate business. Eventually, the scheme collapses when they can no longer attract new investors, and many people lose their funds.

• Ransomware:

Ransomware is a type of malicious software that locks a user’s access to their systems or data until a ransom is paid in cryptocurrency. Even after paying, there is no guarantee that access will be restored. 

Why are Cryptocurrency Scams becoming more common?

Cryptocurrency scams are on the rise for several reasons:

• Anonymity and decentralization:

Blockchain allows for anonymous and decentralized transactions, making it difficult to trace and recover funds. Scammers exploit these features to move money quickly without leaving a trail.

• Popularity of cryptocurrencies:

As cryptocurrencies gain popularity, more people are eager to invest, often without fully understanding the risks. This creates an ideal environment for scammers to operate.

• Lack of regulation:

The cryptocurrency market is still largely unregulated, which makes it easier for fraudulent activities to go unchecked.

Examples of Cryptocurrency Scams

To illustrate how these scams operate and how our forensic reports can assist, here are some examples:

Example 1: Investment Scam

An individual invests in an investment platform that promises guaranteed monthly returns of 20%. After transferring their cryptocurrency funds, the platform vanishes, taking all the money with it.

Example 2: Phishing

A person receives a phishing email requesting their private keys to “verify their account.” Upon providing this information, the scammer gains access to their digital wallet and transfers all the funds to their own account.

Example 3: Ponzi Scheme

A user is enticed by a Ponzi scheme promising high returns. Initially, they receive regular payouts, but after recruiting more investors and transferring additional funds, the scheme collapses, and the scammer disappears with the money.

How can Block Traceability assist in cryptocurrency recovery?

At Block Traceability, we leverage advanced tools to track and analyze the movement of crypto assets on the blockchain. Our team of experts produces detailed reports that identify the involved digital wallets and provide the necessary information to recover stolen funds.

• Blockchain analysis:

We use advanced analytical software to trace cryptocurrency transactions from their origin to their final destination. This enables us to map the flow of funds and detect any suspicious activity.

• Detailed report creation:

Our forensic reports include detailed charts and technical analyses that clearly explain the flow of cryptocurrencies. These reports can be used as evidence in legal proceedings to support the recovery of funds

• Ongoing support:

We offer continuous support throughout the recovery process, working closely with lawyers and providing any additional information required for the case.

Traceability report creation process

Our process for creating a cryptocurrency traceability traceability report is meticulous and designed to ensure data accuracy and integrity.

• Information gathering:

The first step involves collecting all relevant information about the fraudulent transaction, including transaction details, wallet addresses, and any additional data provided by the client.

• Blockchain analysis:

We use advanced tools to analyze the blockchain and trace the movement of crypto assets. This analysis allows us to identify the digital wallets involved and map the flow of funds.

• Wallet identification:

We pinpoint the digital wallets that have received the stolen funds and analyze their transaction patterns to detect any suspicious activity.

• Report preparation:

We create a detailed report that includes charts and technical analyses, providing a clear and comprehensible view of the cryptocurrency flow.

• Delivery and support:

We deliver the report to the client and offer continuous support throughout the legal process, ensuring the information is effective

Frequently asked questions about our services

• What do I need to start a forensic report?

To start a forensic report, we only need the details of the fraudulent transaction and any additional information about the scam that the client can provide.

• How long does it take to create a forensic report?

The estimated time to create a forensic report is approximately 5 business days, depending on the complexity of the case.

• Can I recover my money with the forensic report?

Our reports significantly increase the chances of recovery, but the final success depends on the legal process and the cooperation of the involved platforms. cooperación de las plataformas involucradas.

Conclusion

At Block Traceability, we are committed to helping victims of cryptocurrency scams recover their assets. Our cryptocurrency traceability reports provide a technical and legal solution to trace and recover funds, offering a clear path to justice and financial recovery.

Contact us today for more information and to begin the process of recovering your cryptocurrencies.