Tracing cryptocurrency flows and recovering assets for victims. - Vietnam.vn
The Office of the Investigation Agency of the Ministry of Public Security recently organized a training conference on tracing cryptocurrency flows and recovering assets for victims.
The conference was held in person at the Ministry of Public Security's auditorium and connected online to police units, localities, and commune-level police. It was held under the directive of Lieutenant General Nguyen Van Long, Member of the Central Committee of the Communist Party of Vietnam and Deputy Minister of Public Security.
The event aimed to equip law enforcement with the necessary skills to control and trace money flows and recover assets for victims. More than 27,300 leaders, commanders, investigators, detectives, and investigative officers, along with representatives from police academies and schools, attended the program.
Speakers from Interpol, the State Securities Commission, and organizations and businesses from South Korea, the United States, Switzerland, and Singapore presented at the conference.
New challenges in digital asset tracing
Lieutenant General Tran Minh Tien emphasized that the development of blockchain and cryptocurrency trading is posing new demands on security and order. Criminals can convert money from fraud, corruption, and online gambling into cryptocurrency and then move it through multiple wallets, platforms, and countries to conceal its origin.
Decentralized exchanges, money mixing services, and cross-chain transactions further complicate the process of tracing the flow of money. Therefore, investigations need to clarify both the journey of asset movement and the actual individuals who created, managed, used, or controlled those assets.
Technical training for blockchain analysis
Speakers presented in-depth topics covering seven areas, updating knowledge on technology, legal requirements, and case handling experience. Mr. Ngo Minh Hieu, a senior on-chain data analyst at TRM (USA), presented on blockchain platforms, Web3, and the operation of networks and popular transaction standards such as Bitcoin, Ethereum, USDT/TRC20, and BEP20.
The training clarified how transactions are represented by wallet addresses, methods of manipulating funds, the difference between custodial and self-managed wallets, and methods for tracking transactions.
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