Cryptocurrency Transaction Tracing

Follow the money: track Bitcoin and crypto transactions for investigations.

18 min read
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Overview

Cryptocurrency tracking is an essential modern OSINT skill for financial investigations. While crypto offers pseudonymity, blockchain's transparency allows skilled investigators to trace transactions and identify patterns.

This tutorial teaches you how to track Bitcoin and other cryptocurrency transactions, identify wallet clusters, analyze transaction patterns, and potentially link crypto addresses to real-world identities.

These techniques are used by law enforcement, compliance teams, and security researchers to combat cybercrime, money laundering, and ransomware operations.

Tools You'll Need

Blockchain.com Explorer

Blockchain Analysis

View Bitcoin transactions and wallet histories

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Etherscan

Blockchain Analysis

Ethereum blockchain explorer with transaction tracking

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Chainalysis

Blockchain Analysis

Professional blockchain analysis platform

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Wallet Explorer

Blockchain Analysis

Group Bitcoin addresses into wallet clusters

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BitcoinWhosWho

Blockchain Analysis

Database of known scam addresses and wallet owners

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Step-by-Step Guide
  1. 1

    Obtain the cryptocurrency address(es) from your investigation

  2. 2

    Use a blockchain explorer to view transaction history and balance

  3. 3

    Identify incoming and outgoing transactions and their timestamps

  4. 4

    Map transaction flows to identify clusters of related addresses

  5. 5

    Check if addresses are associated with known exchanges or services

  6. 6

    Look for patterns like regular amounts, timing, or mixing services

  7. 7

    Cross-reference addresses with scam databases and reporting sites

  8. 8

    Document the transaction trail with screenshots and transaction IDs

  9. 9

    Look for links to real-world identities through exchange disclosures or public posts

Tips & Best Practices
  • Different cryptocurrencies require different explorers (Bitcoin, Ethereum, etc.)

  • Wallet clustering can reveal addresses controlled by the same entity

  • Large exchanges are often identifiable by their transaction patterns

  • Mixing services (tumblers) attempt to obscure transaction trails

  • Many criminals eventually cash out to exchanges requiring KYC verification

  • Privacy coins (Monero, Zcash) are much harder to trace

  • Look for 'change addresses' that return funds after transactions

  • Transaction timing and amounts can reveal behavioral patterns

  • Always work with transaction IDs, not just addresses

Community Tips & Insights

Share your own tips or learn from the community's experience

Share Your Tip

OSINTExpert9/25/2025

I've found that combining multiple reverse image search engines in parallel significantly improves results. Don't rely on just one!

CyberSleuth9/28/2025

Always document your methodology step-by-step. This helps with reproducibility and explaining your findings to others.