BlockchainUnmasked

We recently had a call with federal agents and were assisting in the forensics of a large case. We had created a list of wallets for them, using the term: "proof of withdrawal" addresses. We created this term to refer to a specific transaction pattern we often observe when scammers try to reassure victims that their deposited funds can be withdrawn. We differentiate these transactions from what are more likely exit transactions by the scammers in order to more accurately determine the scam operator's wallets and flow of funds. Here’s how it works: A victim asks the scammer for proof that the funds he/she has been depositing can be withdrawn successfully. The scammer will typically argue against a withdrawal, citing excuses as to why they can’t or it doesn’t make sense, however, the scammer will often send a very small amount back to the victim in order to give them “proof” that they can withdraw. Once a victim has seen this proof, typically the scam continues, and the victim often deposits more funds into the scam. We differentiate these transactions to help law enforcement identify other potential victims of a scam. Understanding these "proof of withdrawal" transactions is a critical step in uncovering scam networks and protecting victims from further losses.

This is clever counter-intelligence. Now onto the other 10's of thousands who have done exactly this method of pump and dump.

We are currently working on a case alongside federal law enforcement. It is an amazing breath of fresh air when Agents understand and can move forward efficiently with a crypto case. This greatly reduces the time it takes for Law Enforcement to take actions on a case - reducing a case process by many months (or longer). Admittedly, this is not the majority of our cases. Typically we, as a company, need to be able to translate our findings to the Agents involved in as simple terms as possible in order to gain Law Enforcement traction and action. This is why we have built the tech to do that. And why we realize there is still MORE tech to be built because there is still a gap in investigation uptake and familiarization for federal (or local/state) Agents in order to make progress on a case and ideally get results. To that end, thankfully, we have the ear of a Congressman who can, hopefully, help us move the needle to providing the right tools, the right processes, the right collaborations to actually catalyze a difference in the crypto crime pandemic. We believe crypto crime can be best solved together, public and private, working towards real solutions on every level. We're grateful for the opportunity to help build those solutions. *If you are law enforcement and want to check out our platform, feel free to reach out.

They say imitation is the greatest form of flattery. But I am ANGRY! We were just informed that someone is attempting to copy our company in order to scam others. We have always said that illicit actors will always be a half-step ahead of the good guys, which means victim ON-ramps need to be limited through proactive prevention, monitoring and threat assessment tools while scammer OFF-ramps need to be stopped via exchange and institutional cooperation. We can never stop all fraud, but if we are able to show them that they will NOT be able to off-ramp, that there is a punishment associated with these crimes, then we believe this type of illicit activity should slow down. We are TIRED of hearing victim stories. The same heart-breaking victim stories. Spreading awareness isn't enough. And now it's reached our front door. Fortunately, we have spent the past 2 years taking our investigation expertise and building tech to make prevention a real solution. We have already begun implementing our tools with federal law enforcement and institutions to be more proactive and efficient at handling these illicit actors. It's a daily battle. Onward.

We are beyond excited for 2024 and continuing to build real solutions for victims and proactive prevention tools for law enforcement!

?? Scam Fighter of the Year Award Winner for Best Organization: Watchlist Internet ??The title heads to Austria, awarded by the Global Anti-Scam Alliance (GASA) and ScamAdviser.com. Honored for an unwavering commitment to providing valuable insights into internet scams and frauds, Watchlist Internet's dedication to awareness and education sets a commendable standard in the ongoing battle against online threats. Thorsten Behrens, Project Leader at Austrian Institute for Applied Telecommunications (OIAT), expressed his gratitude, saying, "We are incredibly honoured and thrilled that the Watchlist Internet has been recognized as the Scam Fighting Organization of the Year. This achievement would not have been possible without the unwavering dedication and support of the community: users who report scams daily and our partners in Austria and internationally. Thanks!" Louise Beltzung, Head of Research at ?IAT, emphasized our collective commitment to internet safety, stating, "We all share the same mission – to make the internet a safer place for everyone. As we step into 2024, we see unprecedented challenges and want to ensure that our message and resources better reach people across demographics. Here's to a year of scam fighting!" ?? Runners-up for Best Scam Fighting Organization: ? BlockchainUnmasked recognized for exceptional contributions to cryptocurrency fraud investigation. ? Trilogy Media acknowledged for their precise approach in combating scams on their YouTube channel. Congratulations on this well-deserved achievement! ?? #scamfighters #scam #fraud #phishing #cybersecurity #scamprevention #onlinesecurity #awards

Grateful to be among so many incredible people and organizations. We are excited for 2024!