Manu Fernandez

Tell us about your background and your experience at the Mossos d’Esquadra. How did you land there?

While completing my studies in telecommunications engineering, I began my professional career with an internship at the American technology company, Hewlett-Packard. However, I soon realized that my true vocation was public service and the pursuit of complex criminal investigations.

I joined the Mossos d’Esquadra Police, where I developed my career as a criminal investigator focused on organized crime. Early on, I transitioned to specialized units dedicated to cybercrime — ultimately focusing on cryptocurrency-enabled offenses. Over the years, I had the opportunity to work on complex transnational cases involving organized networks operating across borders, with a strong emphasis on asset recovery and the disruption of illicit financial flows.

Throughout this period, I collaborated closely with international partners and agencies such as Europol and Eurojust, always striving to advance cross-border cooperation and to promote innovative approaches to combating cyber-enabled crime.

What was your first exposure to a case involving cryptocurrencies or digital assets?

My first experience investigating cryptocurrencies dates back to 2017. At that time, commercial blockchain intelligence tools were not yet widely adopted, so we relied heavily on our own analytical capabilities and collaboration with other agencies.

Together with Europol and the Guardia Civil, we dismantled an investment training operation that was actually a fraudulent scheme. This case marked our first attempt at asset recovery involving digital assets — a relatively modest amount of around USD 70,000, but an important milestone.

It was an invaluable experience because it gave us early insight into the significance of emerging payment methods and the realization that cryptocurrencies would soon become a key enabler for organized crime.

Are there any particular cases that stand out most to you when you think back on your time with Mossos d’Esquadra?

Yes, one case that stands out began in 2018 and continued over a period of nearly five years. We were investigating a large-scale investment fraud scheme, which today would be classified as “pig-butchering.”

Through extensive intelligence work, we were able to identify more than 40 call centers operating across different regions in Eastern Europe. To address the scale of the criminal network, we established a joint investigation team with participation from seven leading European countries. Coordination with Eurojust and Europol was essential to organize an action day, which ultimately took place over nearly a week outside of Spain.

I was fortunate to contribute to the technical planning of the operation on behalf of the Spanish delegation. This effort highlighted the importance of international cooperation and the use of advanced investigative techniques to dismantle such complex infrastructures. It remains one of the cases I am most proud of, as it helped set a precedent for future operations against similar transnational schemes.

Did you see any trends in the kinds of crimes or cases you were involved in during your time with the force?

Yes, during my time as a criminal investigator, there was a clear shift from traditional cash-based methods to the increasing use of cryptocurrency. In the early stages, Bitcoin was the predominant asset involved in criminal activities. However, over time, we began to see much more sophisticated schemes emerge.

Offenders started to leverage smart contracts, alternative blockchains such as TRON, and increasingly complex laundering techniques that significantly raised the bar for investigators. These evolving methods made it clear that without strong collaboration between public agencies and private sector partners, progress in these cases would have been extremely challenging.

Overall, I observed a marked escalation in both the specialization and sophistication of criminal actors over the years.

What are the biggest challenges facing crypto investigators, and do you have any advice for overcoming them?

Strictly within the scope of cryptocurrency investigations, one of the most significant challenges I encountered was ensuring that stolen funds could be recovered swiftly and securely. A key success for me was managing to restore the full amount invested by a particularly vulnerable victim. This was possible thanks to unusually rapid coordination between private-sector partners — specifically, the exchange involved — and the criminal investigation team.

Beyond casework itself, I am especially proud of having developed a dedicated tool to support asset recovery operations. Designing and programming this solution required extensive effort. It was built on principles such as Account Extraction and the ERC-4337 standard, with the goal of creating unattended wallets that removed the need for direct private key custody and instead relied on social recovery mechanisms.

This application is currently hosted at Europol, and is available to colleagues across European law enforcement. Delivering it not only as a proof of concept, but as a practical alternative to the long-standing problem of key management in police environments, is one of the milestones in my career that I am most proud of.

To investigators who are just starting in the crypto space, I’d offer the following advice: be deeply aware of the times we’re living in — everything moves at incredible speed, from technological advances to emerging criminal trends. High-quality continuous training isn’t optional; it’s essential. Equally important is building and strengthening cross-border partnerships. Crypto crime doesn’t respect borders, and neither should our collaboration. The goal is shared — and only through coordinated international efforts can we effectively combat crypto-enabled crime.

At TRM, what is the most impactful way you support law enforcement?

At TRM, I believe the most impactful part of my work is having a broad, global perspective on cryptocurrency investigations and the challenges agencies face in different jurisdictions. Unlike my time in law enforcement — where my role was necessarily focused on individual cases — my current position allows me to contribute across multiple dimensions.

I’m passionate about delivering high-quality training to investigators and colleagues, helping them build the skills and confidence they need to tackle crypto-related crime effectively. I also support the development of stronger international relationships by connecting agencies and fostering cross-border collaboration whenever it’s needed.

My role also gives me the opportunity to share best practices and lessons learned from hundreds of cases around the world. This helps law enforcement teams accelerate their learning curve and avoid common pitfalls. Finally, I’m able to contribute to capacity building at scale — supporting not only individual investigations, but also the creation of sustainable frameworks and tools that can have a lasting impact across the entire ecosystem.