Navigating Crypto Crime: A Look at Blockchain Forensics in Cyprus and Greece

As digital currencies become more mainstream, so too do the complexities of crypto-related crime. When assets vanish into the digital ether, blockchain forensics is the key to tracing them. But what does this process involve, and how does it apply within the legal jurisdictions of Cyprus and Greece?

What is Blockchain Forensics?

Blockchain forensics is the practice of analyzing, tracing, and clustering transactions on a blockchain. The goal is to follow the trail of digital currency, often to uncover the identities behind illicit activities like fraud, money laundering, or theft. At Ondology Labs, we use state-of-the-art tools to de-anonymize transactions and provide clear, actionable evidence.

The Legal Landscape in Cyprus and Greece

Both Cyprus and Greece are part of the European Union, which means they adhere to stringent Anti-Money Laundering (AML) directives, specifically the 5th AML Directive (AMLD5), which brings crypto-assets under its scope. This provides a legal foundation for investigating crypto crimes.

• In Cyprus: The Cyprus Securities and Exchange Commission (CySEC) oversees crypto-asset service providers (CASPs), requiring them to register and comply with AML regulations. This creates a regulatory framework that aids in forensic investigations when a registered entity is involved.
• In Greece: The Hellenic Capital Market Commission (HCMC) is the regulatory body responsible for overseeing the crypto market. Cases of crypto fraud can be reported to the Greek Police's Cyber Crime Division, which has the authority to investigate these complex cases.

How We Can Help

Our expertise in blockchain analytics allows us to work alongside legal teams and law enforcement in both Cyprus and Greece. We provide the technical evidence needed to build a strong case, helping you navigate the legal system to recover your stolen assets. If you've been a victim of a crypto crime, don't hesitate to reach out for a consultation.