In August, the Crypto Team from the Public Ministry of Buenos Aires (MPBA) conducted 27 search operations where they seized fraudulently obtained crypto assets. The investigation revolved around cyber actors phishing and impersonating legitimate businesses, then converting the illicit proceeds to cryptocurrency, which was then laundered across multiple blockchains. The case was prosecuted by the Specialized Team for the Investigation of Virtual Assets within the Ministerio Publico de Buenos Aires (MPBA).
TRM Labs is proud to have supported the Public Ministry of Buenos Aires in their efforts to identify and seize the illicit crypto assets.
Rafael Garcia Borda coordinated the investigation and sequenced the raids. “Thanks to the use of blockchain intelligence tools from TRM, our Specialized Team for the Investigation of Virtual Assets was able to trace and identify the destination given to cryptocurrencies swapped from funds illegally obtained in a scam.”
María Sol Cinosi, one of the lead investigators, was able to follow the fraud proceeds across multiple blockchains. “Combining blockchain intelligence tools with traditional investigative techniques, in less than six months, we were able to trace and seize ETH, TRX and BNB, which were successfully deposited in state-controlled wallets.”
This case is an example of the tireless efforts of law enforcement, using sophisticated blockchain intelligence, to track and ultimately seize back illicit proceeds.
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