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Publication 28 Apr 2022 · United Kingdom

Key relationships

2 min read

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In that context, it is important to have relationships with the relevant people at the following types of firms:

Crypto Exchanges

(including Binance, FTX, Coinbase). There are many crypto exchanges. The biggest will tend to cooperate with law enforcement, or with requests to freeze funds if you already have those relationships in place.

Crypto wallets

these will allow you to hold and manage crypto yourself in circumstances where you cannot trust a third party custodian. Hot wallets such as MetaMask are connected to the internet so are less secure but more functional. The opposite is true of cold wallets such as the Nano USB device produced by Ledger.

Custody providers

such a s Copper, Trustology and Ledger. These providers do their own KYC and AML checks, but it isn’t impossible that stolen assets could slip through.

Chain analytics firms

Elliptic, Chainalysis, Ciphertrace, Merkle Science, Coinfirm, Blockchain Intelligence Group. These firms can help track crypto assets, spot trends, prevent fraud and identity and link illicit addresses. It’s important to not only have access to some of their software but understand how they work and what they can do.

Law enforcement

As crypto is international, it can be essential to have relationships with the relevant international law enforcement agencies.

Crypto forensics investigators

These are experts at working with law enforcement and chain analytics firms to track cryptocurrencies.

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