How to track “digital footprints”: NSSMC experts studied methods for investigating crypto-crimes

The world of virtual assets is evolving at breakneck speed, and with it, schemes involving illegal financial transactions are becoming increasingly sophisticated. To effectively address these challenges, regulators must stay one step ahead.

Recently, Vladyslav Budiakov, Head of the NSSMC State Regulation of the Virtual Asset Market Unit and other Commission experts participated in a specialized training session on methods for investigating financial crimes involving virtual assets.

This event was made possible by the “Strengthening Ukraine’s Capacity to Combat Illicit Finance (UCIF)” project, which is funded by the Government of the United Kingdom through the Integrated Security Fund (ISF) and implemented by DAI Global UK Ltd in partnership with the Royal United Services Institute (RUSI) and Crystal Blockchain.

Over the course of two days, our specialists worked alongside leading Ukrainian and international experts in the fields of blockchain analysis and digital forensics. The training combined theory with intensive hands-on practice. Specifically, participants practiced:

● Blockchain analysis: how to find and identify “digital footprints” on the network.
● Asset management: basic operations with crypto wallets and understanding the DeFi (decentralized finance) ecosystem.
● Crystal Blockchain toolkit: practical use of professional software for conducting real-world investigations.
● Digital forensics: how to uncover hidden traces of cryptocurrency transactions across various devices.

Professional development for NSSMC staff is a crucial part of building a robust regulatory environment in Ukraine. Such initiatives strengthen the state’s ability to combat illicit financial flows and help establish transparent rules of the game in the virtual asset market.