Book
There's No Such Thing as Crypto Crime
Nick Furneaux, Wiley
The current investigator's handbook for tracing cryptocurrency, from wallets and transactions through swaps, bridges, mixers, privacy coins, DeFi, and seizure. Replaces the author's 2018 book.
Nick Furneaux wrote the 2018 book most crypto investigators learned from, then replaced it in November 2024 with this one, which covers what changed: smart contracts, coin swaps, layer-two networks, bridges, mixers, privacy coins, DeFi, NFTs, and seizure strategy. The title is the argument: crypto is not a new crime, it is a new trail for old ones.
Worth it if
- You trace funds for fraud, ransomware, sanctions, or asset recovery work
- You learned crypto investigation before 2020 and have not caught up with DeFi, bridges, and mixers
- You need to explain blockchain evidence to lawyers, courts, or clients
- You want the technical foundation before you rely on a commercial tracing tool
Skip it if
- You want advanced tracing techniques; some readers find the approach pedestrian for experts
- You only need to identify whether crypto is involved; the free Basel course covers that
- You dislike a chatty tone; a few reviewers call it condescending
What is inside
- 01
Foundations
How keys, addresses, transactions, and blockchains work, explained for investigators rather than developers.
- 02
The modern landscape
Smart contracts, tokens, coin swaps, layer-two networks, bridges, and why each complicates a trail.
- 03
Obfuscation
Mixers, privacy coins, and the techniques criminals use to break attribution.
- 04
Following the money
Address clustering, exchange attribution, DeFi and NFT flows, and building a case narrative.
- 05
Seizure
Strategies for recovering and securing assets once they are found.
What you will be able to do
- Follow funds through a swap, a bridge, or a mixer and explain where the trail weakens
- Read a block explorer and a transaction graph without a commercial tool
- Describe blockchain evidence in terms a court will accept
- Plan a seizure rather than improvise one
How current it is
Published in late 2024 and current for the DeFi era. Crypto tooling changes fast, but the book is built on how the protocols work, which changes slowly. The 2018 predecessor is still sold and still fine for Bitcoin fundamentals, but it predates almost everything in the second half of this book.
- Updated
- First edition, November 2024
- Maintained
- Updated now and then
How to get the most from it
- 01
Read with a public explorer open
Follow one real transaction through each chapter's concept. The book is far easier with a live example.
- 02
Do the foundations even if you think you know them
Most tracing mistakes come from a shaky model of how addresses and change outputs work.
- 03
Compare to a commercial tool afterwards
Once you can trace by hand, you will know what the expensive tool is actually doing and when it is wrong.
Strengths
- Current for DeFi, bridges, and mixers
- Written by a trainer, so it explains rather than lists
- Covers seizure, which most books stop short of
Limitations
- Not advanced enough for experienced tracers
- Tone divides readers
- Few independent reviews yet
Pair it with
- ReadCourseFreeBeginner
Open-source Intelligence (Basel LEARN)
A free case that includes a Bitcoin trace, to warm up.
- ReadBookPaidBeginner
Deep Dive: Exploring the Real-world Value of Open Source Intelligence
Has cryptocurrency and NFT chapters inside a broader OSINT method.
- ReadCoursePaidAdvanced
SANS SEC587: Advanced Open-Source Intelligence
Includes crypto tracing labs in an advanced course setting.
FAQ
Questions, answered
Should I buy Investigating Cryptocurrencies instead?
Only for Bitcoin fundamentals at a lower price. The 2018 book predates DeFi, bridges, and modern mixers. This 2024 book is the same author's replacement.
Do I need to be technical?
No programming is required. You need patience for how transactions and contracts work, which the book takes time to build.
Learned the method? Practise it on real data
The resources above teach the craft. When you want to run real lookups across breach, people, domain, and crypto sources without opening a dozen vendor accounts, that is what SearchIn is for.
- Free account, no card
- Credits never expire
- Refund unused balance in 7 days