💰 How Scammers Convert Your Money Into Crypto — And How We Trace It

Understanding the flow of stolen funds is key to stopping fraud—and getting your money back.

At United Asset Protection INC., one of the most common patterns we see in scam cases is the rapid conversion of stolen money into cryptocurrency. Whether it’s an investment scam, romance scam, or fake trading platform, fraudsters tend to follow the same financial trail: get the money, convert it, hide it.

But here’s the good news: crypto isn’t as anonymous as they think.

In this blog, we break down why scammers turn to crypto, how they move the funds, and how our recovery experts follow the trail—often in real-time.

🧠 Why Scammers Convert to Crypto So Quickly

Once a scammer receives your money—usually through a wire transfer, e-transfer, or deposit to a Canadian bank account—the next step is speed.

They often:

• Buy crypto through platforms like VirgoCX, NDAX, Shakepay, or Crypto.com
• Withdraw it to a private wallet
• Send it through multiple transactions (aka “chain hopping” or “mixing”) to cover their tracks

They prefer crypto because:

✅ It’s fast
✅ It’s borderless
✅ It gives the illusion of anonymity

But that’s where many of them make a mistake.

🕵️‍♂️ Blockchain Tracing: How We Follow the Trail

Every crypto transaction leaves a digital footprint on the blockchain—an open, decentralized ledger that anyone can view.

At United Asset Protection INC., we work with:

• 🛠️ Advanced forensic tools like Chainalysis & TRM Labs
• 👨‍💻 Blockchain analysts trained in tracing assets across multiple networks
• 🤝 Global partners in law enforcement and regulatory agencies

We track the path from:

Your bank account ➡️ Exchange ➡️ Wallet ➡️ Destination

Even if they try to hide behind anonymous wallets or overseas exchanges, our tools map out the movement, flag suspicious activity, and in many cases, identify the final location of the funds.

⚡ Why Time Matters

The longer scammers hold on to your money, the harder it can be to recover. Once it’s in crypto and moved to offshore wallets or converted to privacy coins, the trail gets colder.

That’s why it’s critical to:

• 🚨 Report the scam immediately
• 📄 Gather all transaction receipts, communications, and exchange info
• 📞 Contact a recovery professional who understands blockchain forensics

We’ve helped freeze wallets, initiate legal claims, and work with Canadian crypto platforms to secure funds before they disappear.

💬 Real-World Example

One of our clients was tricked into investing $212,600 CAD in what appeared to be a legitimate crypto trading platform. The scammer instructed them to fund their account through NDAX and send Bitcoin to a provided wallet.

Our team traced the BTC through five wallets and identified a major exchange in Europe where the funds landed. Through our legal channels and partnerships, we obtained a freeze order within two weeks—ultimately recovering 70% of the funds.

✅ The Takeaway

Scammers convert your money into crypto because they think it’s untraceable.
They’re wrong.

With the right tools, knowledge, and partnerships, we follow the trail—and fight to recover your losses.

If you’ve sent money to a scam and believe it’s been turned into crypto, don’t wait. Contact United Asset Protection INC. today. The sooner we act, the stronger your case.