Simon Grant comments in a Financial Post look at the challenges in tracking the movement of cryptocurrency—and how there are signs that authorities around the world are becoming better at it. The Post writes:
"In a separate case early this month, the U.S. charged a couple in New York with laundering US$4.5 billion worth of crypto hacked from the Bitfinex exchange in 2016. According to a report in the Wall Street Journal, investigators were allegedly able to tie the stolen funds to the couple when a fraction of a bitcoin was used to purchase a US$500 Walmart gift card years after the theft.
Simon Grant, partner in the fintech practice at Bennett Jones LLP, said the Bitfinex case showed how law enforcement was getting more savvy when it comes to tracking cryptocurrency.
“I think the recent U.S. arrests in connection with the Bitfinex hack demonstrate how much information is out there for law enforcement to obtain—that is, once law enforcement can marshal the technical capabilities necessary to access it,” Grant said."
Bennett Jones