Blockchain investigator, Milan
Guglielmo Anfossi
Blockchain investigations where every step can be reproduced and every finding explained.
I trace digital assets across mixers, bridges, DeFi and services, and build the systems and automations that make investigations auditable and reproducible.
Investigations alongside Swiss police, the US Secret Service and UK law enforcement.Crystal Certified Investigator (EVM & UTXO)
$10.5M USDT
Investigative work behind a single-case freeze and recovery of $10.5M in stolen USDT, with Swiss authorities.
Work carried out at Token Recovery.
Reported by Kantonspolizei Schwyz
$1.5M USDC · 9 working days
A London hedge fund lost 1.9M USDC with no leads. The tracing, which I conducted, led to a single address and pointed to an insider. Freezing and search orders followed; over 80% was recovered.
Work carried out at Token Recovery.
Reported in Thomson Reuters Regulatory Intelligence
Investigation glossary
I started writing these down to explain the work to colleagues and help lawyers understand my reports. Others came later, as I needed them for my essays. Now they're all here, in case they help you too. I keep adding terms and refining the ones already here.
Peel chainDemixingTaintDrainerNested serviceClusterFlash loanCoin mixer
Writing
Notes on blockchain investigations, financial crime, and the structures that make digital assets difficult to investigate. Occasionally, I also explore adjacent topics, including the infrastructure of trust and adversarial systems.
Recent
What I work on
A finding should stand without you.
I turn complex on-chain activity into something lawyers and courts can understand. I reconstruct what happened, explain the relationships and mechanisms involved, and make the path from transaction to conclusion clear. Every step of the analysis is reproducible from public chain data, so findings can be independently verified.
The goal is not to overwhelm with technical detail, but to make the important parts impossible to misunderstand.
Crystal Certified Investigator (EVM & UTXO)
When the trail ends
Not every investigation is a question of where the money went. Sometimes the trail is the wrong place to look.
I investigate the structures behind on-chain activity: the shared infrastructure, repeated behaviours, contract relationships, timing and economic constraints that reveal who is operating a system and how it works.
When the obvious trail ends, I change the question. I use what the chain exposes beyond the movement of funds to identify patterns, test hypotheses and reconstruct activity that ordinary tracing would miss.
Crystal Certified Investigator (EVM & UTXO)
Ontologies for investigation
Laundering hides in relationships, not transactions. An ontology gives those relationships a shared language, so every pattern, from peel chains to cross-chain hops, means the same thing to every analyst, tool and model.
I build ontologies from real investigations, so patterns are labeled consistently, models can reason over them, and every finding can be explained.
Neo4j Certified Professional
About
I investigate systems by understanding their constraints. Today, that means blockchain.
Never Reject a Coffee
A 30-minute conversation with fellow investigators, researchers and builders about research, tooling and what's in the news. I'm not taking on new cases at the moment.