What Is Blockchain Analysis?

Has anyone told you that getting money back from a crypto scam isn’t possible? If so, chances are they haven’t heard of blockchain analysis and crypto recovery. Times have changed since the dawn of the crypto era in 2008. Now, blockchain analysis is making crypto recovery more effective and successful. Crypto scam victims have realistic hopes of recovering their funds if they recruit the right crypto recovery experts. 

Blockchain analysis is the process of using technical tools and human ingenuity to interpret data on the blockchain. These analysts can gain insights and extract meaningful information by studying transaction history, wallet addresses and metadata displayed on the blockchain. 

From this analysis, experts can see patterns and behaviors that can help them unmask andj identify the players behind crypto scams.

How Is Blockchain Analysis Different from Traditional Forms of Fund Recovery

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Before the cryptocurrency era, fund recovery efforts were focused on credit card chargebacks and bank wire recalls. It might have been a challenge to appeal to the issuing bank to convince them to require a chargeback in a specific case, but all of the information was known from the beginning of the claim. 

When pursuing a chargeback, fund recovery experts already know the people involved in the case. It was seldom necessary to launch an investigation to discover the people behind the fraud. Although criminals have always used pseudonyms, banking services usually require Know Your Customer forms and other identifying information to verify names and addresses of account holders. 

The blockchain seems to be transparent. In fact, in the sense that all transactions are recorded permanently o the blockchain, this technology provides the most transparent of all financial transactions. However, in another sense, people have never been more in the dark about who they are buying, selling and trading with. 

On the blockchain, we can observe bitcoin wallet addresses, but no names or physical addresses. That’s why crypto scam victims need blockchain analysis experts to first determine who holds their funds and where they were cashe dout and then to pursue crypto recovery claims.

Blockchain Analysis and How It Exposes Bitcoin Scams

Effective blockchain analysis requires advanced software that can perform the following functions:

  • Transaction Analysis
  • Address clustering
  • Crypto trace analysis

Blockchain analysis begins with the transactions. Using advanced software, these experts will track the flow of funds and observe addresses involved in transactions. This allows them to see not only the primary transaction between the crypto scam victim and the first wallet, but wallet addressed of accomplices or “mules” that are used to launder money. These additional transactions are essential for finding the location of client funds. 

Address clustering automatically establishes a relationship between different bitcoin wallets and can “tell the story” of a crypto scam. From these addresses, bitcoin analysts can create a list of persons of interest, accomplices and suspects in a bitcoin scam. 

Crypto trace analysis combines the best of technological advances and human bitcoin forensics analysis to draw conclusions about what most likely happened with this bitcoin scam and the location of client funds. 

Following the crypto trace analysis, we draft a crypto report that will map out the path of the bitcoin scam and provide identifying information that will give law enforcement valuable leads for pursuing crypto recovery.

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Do You Need Fund Recovery Assistance from Blockchain Analysis Experts?

If you’ve lost money to a cryptocurrency fraud,  you may be tempted to give up or try to go it alone. Neither of these approaches is the right one. As mentioned above, there’s no need for despondency or to arrive at defeatist conclusion even if you fear the likely scenario–that your money is being laundered on the blockchain. 

This doesn’t mean that it’s a great idea to find software that will help you analyze blockchain transactions. The cyber criminals use state of the art technology to get away with laundering their ill-gotten gains. They can afford to because, frankly, they steal enough money to pay for it.

When it comes to tracking down crypto scams, it’s important to fight fire with fire. That’s why you need cutting-edge technology and people with proven experience tracking down bitcoin scams and retrieving customers’ funds with successful crypto recovery strategies.

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Also, findings from blockchain analysis should be presented in a user-friendly form that will help law enforcement and government agencies to help you pursue your claims. Although crypto services are being expanded in police departments, many law enforcement officials still are baffled by crypto scam cases. 

It takes an expert to explain things clearly so that even a layperson can understand. That’s why crypto reports generated by CryptoComplaint experts are clear and actionable and can get results for your claim. 

Crypto Complaint provides a comprehensive range of services. Our cutting-edge crypto trace technology, typically exclusive to law enforcement and government agencies will give you a crucial edge in your crypto claim. Our team with decades of collective experience in fund recovery investigations, generates reports that are too for authorities, to halt crypto scams and restore funds to the victims affected.

For Blockchain Forensics Expertise, Talk to Crypto Complaint!

Time is of the essence when it comes to tracking down crypto scams on the blockchain. That means contacting Crypto Complaint professionals as soon as you suspect you lost money to a bitcoin fraud. We will consult with you, launch the blockchain forensics process and create a crypto report that can lead to crypto recovery success.

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