In the latest issue of “Lawyer’s Notes,” Yuriy Zhovtan, a partner at Barristers LLP, analyzes two high-profile court cases in which cryptocurrency transactions served as key evidence.
How do law enforcement agencies use blockchain in their investigations?
United States: The Roman Sterlingov Case. The founder of the Bitcoin Fog crypto mixer, through which over $336 million from darknet markets passed, was exposed thanks to an analysis of blockchain transactions. The FBI tracked transfers, IP addresses, and verified accounts on exchanges, which served as decisive evidence in court. Ukraine: A $2 million USDT fraud case. The cyber police were able to track the perpetrators’ funds, which had been verified on a crypto exchange, and apprehend the suspects. A portion of the stolen assets was recovered.
What does this mean for cryptocurrency owners?
Crypto transactions are increasingly being used as evidence in criminal proceedings. Anonymity in the cryptocurrency world is no longer absolute. Law enforcement agencies are developing blockchain analysis methods to combat crime.Watch the video for more details!
Author: Yuriy Zhovtan, Attorney and Partner at Barristers
Source: Barristers Youtube