Where Do Scammers Hide? And Where Do They Stash Their Stolen Crypto?

“Where are my scammers?” It’s a natural question MyChargeBack hears from its clients. After all, the objective of the CryptoTrace™ reports we provide them is to uncover the exchange that hosts the cash-out wallet that received their stolen cryptocurrency. This White Paper explains why two jurisdictions in particular come up time and time again as the most common wallet hideouts. However, while the physical location of a scammer is critical for a law enforcement agency determined to apprehend a suspect, it is ultimately irrelevant to victims, whose priority is recovering their stolen funds. What is critical to crypto recovery instead is identifying the crypto exchange that hosts the cash-out wallet. The only way that can be done is through a forensic blockchain analysis, which traces the path the victim’s crypto takes from the sending wallet all the way to the last recipient wallet.



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