SOLUTION PPT - https://drive.google.com/file/d/1j_b61yc_wdRtTBMoDMQTEtxn8S2fvS6p/view?usp=sharing
$ Rise of Cryptocurrency in Illicit Activities: Cryptocurrencies are being used in activities like fake dating profiles, ransomware, investment scams, darknet criminal businesses, and ponzi schemes.
$ Difficulty in Investigation: Investigating the flow of cryptocurrency becomes difficult due to various methods of hiding and mixing funds.
$ Cryptocurrency Flow Tracking: Tracking the flow of cryptocurrency is difficult, especially when funds are hidden in mixers, coin swap services, privacy coins, DeFi services, and layering services.
$ Limited Features in Existing Tools: Free software like Blockexplorer, Metasleuth, and Etherscan have limitations in offering complete features for tracking and visualizing cryptocurrency flow.
$ Cross-Border Transactions: The flow of cryptocurrency often involves cross-border transactions, adding another layer of complexity to the investigation.
$ Better Visualization Software / Funds Flow System: Develop a new software/tool that addresses the limitations of current ones.
$ Sankey Diagram Features: Utilize features of Sankey diagrams to visually show the flow of funds.
$ Incorporate Hiding Techniques: Include features that identify and show the specific hiding techniques used in the flow, such as mixers, DeFi services, and layering.
$ Direct method to Crypto-Exchanges: Provide a direct method to tracing funds to crypto-exchanges like Coinbase, Binance, and Kraken.
$ Integration of Direct Messages: Integrate a communication system that allows users to send direct messages to nodal points of crypto-exchanges and mixer services for obtaining information promptly.
$ Comprehensive Tracking: Ensure the tool can thoroughly track the flow of cryptocurrency through various stages, from initial illicit activities to crypto-exchanges.
$ User-Friendly Visualization: Create an intuitive and user-friendly visualization interface that uses Sankey diagrams for clear representation.
$ Real-Time contact: Enable real-time contact with crypto-exchanges and mixer services to expedite the investigation process.
$ Global Transaction Analysis: Provide tools for analyzing and tracking cross-border transactions.
Blockchain Analysis: Leverage blockchain analysis methods to trace transactions.
Data Privacy and Security: Implement robust data privacy and security measures, given the sensitivity of the information being handled.
User Authentication: Ensure secure user authentication and authorization to avoid misuse of the tool.
Regulatory Compliance: Adhere to important legal and regulatory systems governing cryptocurrency investigations.
