Following the Money with Chainalysis: 7 Questions for Lieutenant Colonel Chitsanupong Waidee
Following the Money is a Q&A collection that spotlights how Chainalysis clients use our merchandise in the actual world — from compliance groups and investigators to pioneers driving crypto adoption.
Lieutenant Colonel Chitsanupong Waidee is with the Central (*7*) Bureau in Thailand.
What is the largest false impression about your job?
Many individuals assume that investigating cryptocurrency crimes is inconceivable as a result of blockchain is “nameless.” In actuality, blockchain is pseudonymous and, with the proper instruments like Chainalysis, it turns into extremely clear. Every transaction leaves a path. The actual problem isn’t visibility; it’s piecing collectively on-chain knowledge with off-chain intelligence, victims, and typically international jurisdictions. Once individuals see how traceable crypto actually is, they’re normally stunned.
What’s a case that caught with you? OR What is the coolest factor you’ve helped remedy?
One memorable case concerned a big cross-border rip-off community shifting funds from Thailand to rip-off compounds in Myanmar. By analyzing TRON and Ethereum wallets, we uncovered how scammers laundered cash via stablecoins, transformed them into money, and bodily smuggled it throughout borders. This case stood out as a result of it wasn’t nearly tracing digital property; it linked on to human trafficking and rip-off victims. Seeing how blockchain evaluation helped dismantle a part of that community was a reminder of why this work issues.
What’s the most stunning factor you’ve ever uncovered in an investigation?
I used to be stunned at how rapidly illicit actors tailored. In one case, scammers have been utilizing legit monetary platforms, together with cost service suppliers and even banks as exit ramps. It confirmed me that the abuse of crypto isn’t remoted; it merges with the conventional monetary system. Uncovering that hyperlink was sudden and proved how important collaboration is between regulation enforcement, regulators, and personal corporations.
Which kind of case is your favourite to work on—hacks, scams, or sanctions?
Scams. Hacks are technically difficult, and sanctions are geopolitically vital, however scams have an effect on abnormal individuals. Every day, victims in Thailand, and more and more worldwide lose life financial savings to romance scams or funding fraud. Investigating scams combines technical blockchain tracing with human tales, and it provides the work an actual sense of objective. When we hint funds and assist victims get some justice, it looks like the most significant affect.
How has your work modified the manner you consider cash or belief?
Before working on this discipline, I noticed cash primarily as money or numbers in a checking account. Now I see it as flows throughout programs. Trust isn’t about establishments alone; it’s about transparency and traceability. Crypto taught me that cash can transfer globally in seconds, however that doesn’t imply it’s untraceable. My perspective shifted; belief in the digital age comes from visibility and accountability, not simply custom.
Can you bear in mind the second when Chainalysis helped you crack a case?
Yes, throughout an investigation into a serious funding rip-off, we used Chainalysis Reactor to comply with stablecoin transactions. The publicity wheel and movement visualizations made it straightforward to indicate colleagues, and even prosecutors, how funds moved from victims’ wallets to exchanges after which into cash-out providers. It turned summary blockchain knowledge right into a compelling story that held up in courtroom. That was the second I noticed Chainalysis isn’t only a device; it’s a bridge between technical investigators and decision-makers.
What emoji finest describes your relationship with Chainalysis?
The magnifying glass! Because each time I take advantage of Chainalysis, it looks like holding a magnifying glass over the blockchain, immediately the hidden patterns turn into clear.
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