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20 years of experience

What is Payback's Edge In Crypto Investigations?

Our crypto experts at Payback leverage cutting-edge blockchain analysis, in-depth regulatory compliance knowledge, and proven investigative methods for successful asset recovery. Our team uniquely combines a variety of essential skills and resources for effective crypto investigations.

What are Digital Currencies?

Digital Currencies (or "cryptos") are digital currencies that operate independently of traditional banking systems, using cryptography for secure transactions. Crypto transactions are recorded on a blockchain – a distributed public ledger that ensures each transaction is permanently and transparently recorded across multiple computers. While fraudsters often rely on crypto due to the perceived anonymity associated with these transactions, crypto transactions are not anonymous but rather pseudonymous (i.e., addresses could be linked to real-world identities using various techniques, analyses, and data sources).

How Can Payback Help in Crypto Cases?

Payback employs a wide variety of methods to untangle the complexities associated with blockchain transactions. Our team knows the ins and outs of blockchain and how scammers try to exploit it. We use our knowledge to track down where your money might have gone, and work with law enforcement and other involved parties to facilitate recovery efforts and potentially freeze those assets, among other measures.

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Blockchain can be best understood as a digital notebook that everyone can see but no one owns. Each page in the notebook represents a list of transactions or exchanges of digital money, like sending or receiving digital currency. When people agree to start a new page, they must all check the previous pages to ensure everything was recorded correctly. In the Digital Coins blockchain, for example, this checking process involves solving complex puzzles, and the first person to solve the puzzle gets to add the new page and earns a reward in BTC. Once a page is added, it's permanently recorded with a unique code that links it to the previous page, making it very difficult if not impossible to change past records. This "notebook" is stored on many computers around the world which helps ensure no single person can control or alter the recorded information without everyone else knowing.
Crypto investigations face complexity when scammers employ sophisticated identity obfuscation techniques or when crypto laws vary across involved jurisdictions. These investigations demand blockchain forensics expertise, understanding diverse Digital Currencies, and familiarity with scammer tactics. Utilizing advanced tracing tools and collaborating with global agencies can be resource-intensive, often leading to investigations spanning months or even years.
Despite these complexities, positive developments are emerging in the crypto space to aid victims. Crypto regulations are becoming more established, and more exchanges will be required to implement KYC/AML procedures. Furthermore, international cooperation on information sharing is improving, making it increasingly challenging for scammers to easily liquidate their illicit gains.