3 important bitcoin investigation steps
3 important steps that will make your bitcoin investigations successful as written by an ex-private investigator.
Bitcoin offers a unique opportunity for financial investigation in that an amateur can easily research a given person’s bitcoin usage. The most basic framework of financial investigation consists of identifying a target, searching for negative information about them or their past, identifying the target’s associates, and then searching for negative information on them. Bitcoin lends itself perfectly to this kind of investigation.
Bitcoin Investment Advice
As we’ve discussed, bitcoin is a volatile asset. It’s a new technology and an investment opportunity that many people are unfamiliar with, which means that they are less able to fully understand what they’re investing in. This lack of understanding can lead to scams like “investment advice” where someone pretends to have inside knowledge about the potential value of bitcoin (or any other cryptoasset) and tells you how much you should buy or sell at certain times.
The problem with these kinds of services is that they’re usually too good to be true: Bitcoin prices fluctuate wildly from day to day sometimes by hundreds or even thousands of dollars and no one can predict what will happen next! The only way someone could guarantee accurate predictions would be if they had access to insider information about company decisions or government regulation changes before anyone else knew about them…which would basically make them soothsayers instead of investment advisors!! So don’t believe anyone who tells you otherwise!
What can an amateur bitcoin investigator learn about a person’s financial history?
If, for example, someone named Asma wants bitcoin she must get a “wallet,” which will contain one or several bitcoin “addresses.” An address can hold money, send money to another address, and receive money. Asma’s bitcoin activity is public, but her name and identity are theoretically anonymous. In a scenario where we are given a specific bitcoin address (whether it is anonymous or owned by a known business associate), the following are steps that we can take to investigate.
Tracing Bitcoin Transaction On The Blockchain; Bitcoin Investigation
Blockchain is a useful tool. The site allows one to look up a bitcoin address and see all of its past financial transactions in addition to how much currency it currently owns. Every transaction, each time the bitcoin address sent or received money, is listed along with the date, the amount of money transferred, as well as the bitcoin addresses that sent and received the money.
Wallet Explorer allows one to find the wallet containing the address of interest (the wallet has its own unique number to identify it). This site also allows one to find if there are other addresses in the same wallet. If there are other addresses in the same wallet, the person who owns the wallet and all of the addresses in it. Therefore, finding the wallet is a great way to find if the owner of one address is also the owner of others.
Bitcoinwhoswho.com is especially valuable in conducting scam investigations. This site not only provides the current balance and number of transactions but also whether the address has appeared on any websites and the IP address of the last transaction.
Note here that our wallet address does not appear on any websites, but the last IP address is shown. We can then take that IP address and put it into one of many IP address search engines such as IPaddresslookup.com and it will tell us the location and ISP of the IP address.
Here we can see, that the last transaction from this wallet came from Norfolk, VA in the US who was using Verizon as their ISP.
Have you been scammed of your cryptocurrency?
These investigative tools can assist you in tracking the activities and identifying the scammers/thieves. The next phase is recovery when the culprits have been identified.
To identify these criminals and recover stolen bitcoins, ChargebackPros employs all of these methods in combination with our own patented tools. If you need help retrieving your bitcoins, visit our Digital Forensic Investigator, and submit a request. We will respond to you as soon as possible.
Asset tracing is the process of tracking the movement of assets (such as money, property or information) from one person or entity to another.
Asset tracing can have a variety of different uses depending on your investigation goals. For example, if you are investigating an employee to find out why they stole company funds, asset tracing will allow you to track where those stolen funds ended up and what other activities they may have been used for since then.
The benefit of asset tracing is that it allows investigators to see how pieces of evidence connect together in a larger picture. Without it, investigators may miss important connections between various pieces of evidence that could lead them toward solving their case more quickly or efficiently than otherwise possible.
The cost associated with asset tracing varies depending on your investigation goals and available resources but generally falls into one of two categories: financial costs such as hiring additional personnel or purchasing software programs; or time spent researching online databases which might not yield any results at all (but do require hours upon hours).
The cryptocurrency space is a great tool for scammers, so be careful and make sure your investigation is thorough.
Investigate the transaction, the sender and the receiver.
Use a blockchain explorer to trace the transaction. A blockchain explorer is an online tool that allows you to view transactions on a blockchain by providing all of their details in real-time, including the location of each coin or token at any given time; who sent them; what they were used for; and even who received them. This can be very useful when investigating fraud because it will show you exactly where funds have been transferred from or sent to, which can lead you closer to finding out their source (or at least narrowing down your search).
If you’ve made it this far, you’re probably wondering what to do next. The best thing is to just keep reading and learning about different ways you can protect yourself from crypto scams. You can also educate yourself about what steps law enforcement takes when investigating a case like this so that if something does happen to your investment, then you know where to go for help.