Cryptocurrency prices have risen significantly over the last year, thus, as its popularity rises, so do the scams involving it. Luckily, cryptocurrencies are not as anonymous and esoteric as some believe.
There are many misconceptions about what cryptocurrencies are and what information is possibly obtainable from the transactions involving them. Nowadays, criminal individuals and organizations have turned to the use of those virtual currencies because, supposedly, it brings them the anonymity they need. Additionally, law enforcement agencies are quickly finding themselves left behind by the rapid evolution of the blockchain and the various new methods used by those criminals. Investigating on the blockchain is time and resource-consuming, hence, high-profile law enforcement agencies in the USA and other countries have instead resorted to the private sector in order to save money and resources. For now, they have reached the conclusion that training their own agents to be capable of tracing cryptocurrencies and, at the same time, to be updated on the current methods of criminal groups, might be expensive and could take plenty of time.
We understand the challenges inherent in dealing with cases involving stolen cryptocurrencies, especially for law firms and other companies whose activities involve their use. They are facing these challenges primarily due to the lack of regulation present in this field, as well as due to the relative inexperience of the research units present within law enforcement agencies. Fortunately, at T&H Consulting we have plenty of experience dealing with such cases, and we know the procedure to follow when it comes to providing solutions to businesses. Signing up with us means that you will be having the attention your business requires and deserves, as well as having a team full of experts that can guide you in building a better service for your clients.
We use two programs for the tracing: Qlue and Chainalysis. Qlue is a software that is in constant development, and is always trying to provide innovative solutions in this field. In the case of Chainalysis, it is one the major providers of software for the tracing of cryptocurrencies and the most prestigious. Our team consists of certified Blockchain experts from diverse backgrounds with a deep understanding of how cybercriminals use cryptocurrency and deliver cryptocurrency intelligence and forensics reports. What we do is analyze the blockchain’s public ledger of all cryptocurrency transactions, by using proprietary data to overlay real world entities on the blockchain and determine which ones are involved. This is made possible by the aforementioned software programs. In the end, this can lead law enforcement to individuals and crime-tainted assets.
We have been cooperating with different law enforcement agencies around the world while helping our clients, which demonstrates the importance of private sector cooperation in crimes using these virtual currencies. Our efficiency also proves how important it is to search for external expertise when it comes tracking these cryptocurrencies. The depth of our rigorous process, along with our integrated, multi-pronged approach, allows us to consult with clients from various industries and sectors, including enforcement and law firms, on the full spectrum of cryptocurrency-related matters.
We have a variety of packages that can be tailored according to the needs of our clients as well as to the required procedures. Please do not hesitate to get in touch with us to get more information.