Open Source Intelligence (OSINT) has become an essential asset in the investigation and recovery of stolen or scammed cryptocurrencies, particularly Bitcoin. With the massive surge in cryptocurrency values, bad actors have increasingly targeted unsuspecting individuals and organizations, leading to billions in losses. In fact, estimates suggest that over $5 billion was lost to crypto-related scams and thefts in the past year alone. The illusion of anonymity that Bitcoin provides has emboldened criminals, yet with the right tools, they’re far from invisible.

At Ouroboros Security, we’ve successfully aided in numerous crypto recovery efforts and even witnessed law enforcement reclaim millions, such as the FBI’s recovery of the $5 million Colonial Pipeline ransom. The key lies in knowing where to look and how to follow the trail.

Below are some of the essential OSINT tools anyone can use to trace Bitcoin activity:

Blockchain.com

This platform enables users to track transactions on Bitcoin, Ethereum, and Bitcoin Cash blockchains. For example, entering a suspicious wallet address reveals a full transaction history—like one recent scam wallet that showed 241 transactions worth nearly $500,000.

You can scroll through every single transaction, gaining insights into patterns and potential links to illicit behavior.

Bitref.com

Bitref allows users to check the current balance of any Bitcoin wallet. By entering the same address as above, we discovered it held a minuscule balance of 0.00000546 BTC. Bitref also displays the last 100 transactions associated with that wallet, offering a quick glimpse into recent activity.

BitcoinWhosWho.com

This tool is especially useful in scam investigations. It not only reports on wallet balances and transaction counts but also indicates whether the address appears on any known websites and even reveals the IP address linked to the last transaction.

For instance, if the IP address is available, plugging it into a lookup service like IPaddresslookup can show the geolocation and internet provider. In our case, one wallet’s last known activity was traced to Norfolk, VA, with Verizon as the ISP.

WalletExplorer.com

Wallet Explorer helps track crypto movements and uses algorithms to cluster addresses and identify possible owners or service providers. When analyzing a wallet, we noted one transaction linked directly to Binance.com, a major cryptocurrency exchange—an important lead in any investigation.

OXT.me

This platform specializes in blockchain analytics. By entering a wallet address, users can view timelines of transaction activity. In our example, the timestamps and amounts for incoming and outgoing transfers were nearly identical, often a red flag. This quick movement of funds is a known tactic to obscure the money trail and avoid detection.

BitcoinAbuse.com

Focused on tracking malicious Bitcoin activity, Bitcoin Abuse allows users to check whether an address has been reported for crimes like fraud, theft, or ransomware. In our investigation, the address we checked had indeed been flagged for involvement in investment fraud.

Final Thoughts

These tools, while powerful individually, are even more effective when used together. They can help uncover transaction patterns, link identities to wallets, and provide geographic and behavioral insights into bad actors. However, locating a scammer is only the first step, the ultimate goal is recovery.

At Ouroboros Security, we combine these public OSINT resources with our proprietary technologies to identify and track cryptocurrency thieves. If you’re a victim of crypto theft or fraud and want professional assistance, visit our contact page to submit your case. Our team is ready to help you reclaim what’s yours.