The Methods Law Enforcement Implies To Catch Crypto Criminals

Digital platform in recent years has become a platform for cybercrimes such as malware, hacking, drug trafficking, phishing, money laundering, fraud, extortion, Ponzi schemes, scams and so forth. One such platform which is threatened by cybercrimes is cryptocurrency space. Since it is an anonymous platform with no central authority, regulations and law enforcement involved with cryptocurrency, the occurrences and conditions of cybercrimes are susceptible.

The Silk Road incident is one of the most infamous cases ever occurred in the cryptocurrency space and many such crimes be it of any length assumingly occurs every day. Eventually, cryptocurrency became the favourite platform for the dark web. However, law enforcement was able to shut down the dark web of Silk Road.

Charles Delingpole — founder of ComplyAdvantage told Hard Fork, “The most famous mistake made by a cryptocurrency criminal is to de-anonymize oneself. When running Silk Road Ross Ulbricht did this by using aliases that were identifiable and traceable back to his real-world identity.”

Also Read, The Cryptocurrency Wallet Heist and Measures to Secure

In this blog we are going to discuss the methods law enforcement implies to catch crypto criminals:

Cryptocurrency is based on blockchain technology which is pseudo-anonymous, immutable, time-stamped, it is a data ledger meaning all the transactions ever made on a blockchain will exist and cannot be altered. These attributes of the technology enable law enforcement to study the patterns that look suspicious, trace and follow the transactions.