Automatizing Crypto Asset Tracking in Cyber Crimes

Abstract

Blockchain technology has created a major transformation in the digital world with features such as decentralization, security, transparency, and traceability. Emerging with Nakamoto's introduction of Bitcoin in 2009, this technology finds applications in various sectors, primarily finance, supply chain, healthcare, and public services. The fundamental principles of blockchain are based on elements such as hashing, distributed ledger technology (DLT), and consensus mechanisms. Innovative technologies such as smart contracts and side chains increase the potential of this system. Cryptocurrencies are an application area of blockchain technology and come across different types such as bitcoin, altcoins, and NFTs. APIs facilitate software development processes and enable integrating systems with blockchain. In the investigative phases, blockchain traceability provides a significant advantage in solving crimes like crypto fraud. This study aims to automate the manual tracking of crypto-related criminal transactions by implementing an algorithm based on the FIFO principle.