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Blockchain forensics is the trusted informant in crypto crime scene investigation

Published 02/26/2022, 12:13 PM
Updated 02/27/2022, 02:20 PM
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The seizure by the U.S. Department of Justice of $3.6 billion worth of Bitcoin (BTC) lost during the 2016 hack of Bitfinex’s cryptocurrency exchange has all the ingredients of a Hollywood film — eye-popping sums, colorful protagonists and crypto cloak-and-dagger — so much so that Netflix (NASDAQ:NFLX) has already commissioned a docuseries.

But, who are the unsung heroes in this action-packed thriller? Federal investigators from multiple agencies including the new National Cryptocurrency Enforcement Team have painstakingly followed the money trail to assemble the case. The Feds also seized the Colonial Pipeline ransoms paid in crypto, making headlines last year. The Internal Revenue Service (IRS) seized $3.5 billion worth of crypto in 2021 in non-tax investigations, according to the recently released Chainalysis cryptocrime 2022 report.

Kashyap Kompella, CFA, a technology industry analyst, is CEO of RPA2AI, a global artificial intelligence advisery firm. Kashyap has a bachelor’s degree (honors) in electrical engineering, an MBA and master’s in business laws. He is also a CFA Charter holder. Kashyap is the co-author of Practical Artificial Intelligence: An Enterprise Playbook.
James Cooper is professor of law at California Western School of Law in San Diego and research fellow at Singapore University of Social Sciences. He has advised governments in Asia, Latin America and North America for more than two and a half decades on legal reform and disruptive technologies. A former contractor for the U.S. Departments of Justice and State, he advises blockchain and other technology companies.

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