Can bitcoins be traced to scammers



Was scammed recently of €5600 .Was approached online and encouraged to buy bitcoin through coinbase. I had no experience of it before. Was told to send my bitcoin to a company address which I now know was a scam. How can I trace my money. Have proof of all transactions

Lilly Power

Posted 2018-12-27T00:07:01.860

Reputation: 13

You can use a block explorer to follow any of the transactions made and if lucky maybe they'll send it to a wallet registered to an exchange. I use: just paste the address you sent it to in and you can follow the movement.

– bkunzi01 – 2018-12-27T00:43:51.457



Bitcoin allows users to transact pseudonymously, so there is no data contained within the blockchain record itself tied to an identity. This is by design, anything else would be terrifyingly Orwellian. Transactions are final, once fully confirmed in the blockchain nobody can issue a reversal or cancellation. As a bitcoin user, you have ultimate responsibility over your funds.

However, it is possible that external data can link an identity to an address. For example, many exchanges that convert BTC <-> fiat money will require customers to undergo a ‘know your customer’ (KYC) procedure, in order to satisfy the regulators of the jurisdiction the exchange service operates within. So an exchange may have a record of customers and associated addresses (but that would not be a public record).

This means that if the scammer stole your coins and then sent them straight to an exchange, there may be a record that could allow the authorities to find the scammer. But keep in mind as well: bitcoins are fungible, so while there is a transaction history that can be traced, there is no way to track ‘this exact bitcoin’ through time. So a savvy scammer may be able to obfuscate their transaction history, to the point of it being functionally impossible to trace your stolen coins through time.

Your best bet is likely to file a report with your local authorities, but I am sorry to say that in many cases there will be little they can do. Best of luck, I hope you are able to recover your funds.


Posted 2018-12-27T00:07:01.860

Reputation: 13 841


In this post here: BTC missing after strange negative transaction I demonstrate how I traced a transaction to a known hacker wallet.

If you'd like to provide the transaction I wouldn't mind taking a look.

The short answer to your question is: Sometimes.


Posted 2018-12-27T00:07:01.860

Reputation: 335