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Blockchain Analysis Explained

Blockchain Analysis Explained


What is blockchain analysis?

Blockchain analysis is a process of inspecting, classifying, and visually representing the data produced by the blockchains which are basically a cryptographic distributed- ledgers. This process occurs in order to gain actionable insights and understand the different actors on the blockchain.

What is blockchain?

In order to get a better understanding of the blockchain analysis’ process, we must first understand the meaning of blockchain. 

Blockchain is a distributed database that enables secure transactions without the need of a trusted third party, like banks. It maintains the continuous growth of blocks which exists in order to replace the trusted third party. The blocks are a list of permanently ordered records that are linked using cryptography. Each of the blocks contains a timestamp and transaction data of the previous block, hence the name: block-chain. Another significant fact about the blocks- once written, can’t be destroyed, or even altered. 

How does it work?

 As mentioned above- the purpose of blockchain is to record and distribute digital information without the option to edit, delete or alter it. The overall process is as following: 

First, a new transaction enters the database.

Second, the transaction is now transferred to P2P (pear to pear) network. All network participants can now solve the mathematic code in order to confirm that the transaction is in fact valid.

After doing so, the transaction is clustered into a block that contains a cryptographic hash of the previous block and transaction data. These blocks are now connected with that timestamp permanently.

Only after all the stages above are completed the transaction is completed as well.

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Why do we need blockchain analysis?

Blockchain analysis is a solution that provides the possibility to monitor a transaction, assess the risks, and investigate transactions and blockchain addresses manually. The whole purpose of blockchain analysis is to associate real existing identities with blockchain addresses and of course, provide us with the tools to analyze the transaction activities. We can do so by using the following blockchain analysis tools’ functions:

  • Risk analysis and transaction monitoring– you can trace the flow of funds between addresses, monitor every transaction connected to your business, and asses the risks based on various factors such as the sender’s history or the fund’s origin.
  • Address classification– the ability to connect a blockchain address to a real-existing person is very important. Without it, blockchain has no extra value.
  • Investigating tools– gives us the option to investigate the blockchain addresses and transactions manually.

Not sure where to start? We are here to help! Send us your question/ request to [email protected]

Utilization of the blockchain net

Not only that the blockchain can make the third party unnecessary, but it also has great potential in a variety of domains. Here are a few examples:


The blockchain provides the medical staff with the opportunity to securely store their patients’ medical records on an encrypted database that can only be accessible to authorized individuals or healthcare providers.

Property records

If you want to buy any kind of property, especially one whose history is important such as a car or a house, blockchain is extremely valuable to you. Nowadays, history records and documentation of those properties is being kept by a third party, a government office. The problem with this is that getting those records and documents requires the services of a government employee which is not only costly but also time-consuming. With blockchain, there is no need for scanning documents, or chasing down some physical files. If a property owner is legitimated and stored, the owner can be sure that the deed is accurate and recorded permanently. 

Do you have any questions? Don’t hesitate to ask us at [email protected]

Is blockchain secure?

The answer is yes and no.

Blockchain technology’s main purpose is to allow people, even the ones with trust issues, to share important data in a secure way. And it works, but there are loopholes. For example, putting together the cryptographic tools in an unsecured way isn’t that surreal according to Neha Narula, the director of MIT’s Digital Currency Initiative. There are other ways that blockchain might not be as secure as you’d expect. Other minors on the net can trick you into wasting time and resources on crypto puzzles that are already solved.

Don’t worry, we can help with that. We can trace it down to the minor that committed the fraud and help you get back what’s yours.

 Here is an example of a process we go through with our clients: 


As you can see, we were able to locate the funds were sent eventually to Binance.com

Binance is a fully regulated exchange that in order to use the scammers will have to provide their ID documents.

Need our help? You are not alone! Reach us at [email protected]

So how does it work?

Well, they will do everything in their power to convince you to make the initial minimum deposit. They will lure you by promising the moon: “We will double that initial deposit within 24 hours!” and so on.

After they succeed with the initial deposit, they will try to get more money out of you using the help of more experienced scammers. It doesn’t end. However, you can make it end even if you fall victim to their empty promises.

Did that happen to you too?

How to get your money back?

It would be best if you did a few things to get your money back.

*Maintaining contact with the scammers can be vital if you would decide to get help from us to learn more

  1. Submit a withdrawal request (in writing) ASAP!

Always remember that they don’t want to give you your money back, but they won’t tell you that. They will DELAY. They will hold back the withdrawal process for months for different excuses.

Know that after six months, you won’t be able to perform a chargeback!

  1. File a chargeback

You had to submit the withdrawal request in writing to prove that you’ve tried to ask for your funds back, yet, they refuse to do so, or it’s delayed for far too long.

This option is valid only if you paid with your credit or debit card.

Performing a chargeback allows you to kill two birds with one stone:

You are more likely to get your money back, and the broker gets hurt.

Firing many chargebacks wrecks their relationship with the payment service providers.

 Want to learn more about a chargeback? Contact us for more information.

  1. If you sent them a wire- you must attack it from a different angle:

Unfortunately, you can’t perform a chargeback. But don’t worry, there are still ways for you to get back what’s yours.

Threat them that you will go to the authorities and unless they give you your money back you will file a complaint against them.

If that doesn’t work- be a man of your word! write an email or a letter to the regulating agency for forex brokers in your country (Google it). Tell them everything that happened, how they conned you, and about your hard-earned money they won’t give back.

But before you send it, give it one last chance and send the letter to the broker; let them know that unless they refund your money- you will send it to the regulating agency.

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