Digital Forensics and Blockchain Analytics: Investigating Illicit Cryptocurrency Activity and Victim Advocacy

“Digital Forensics and Blockchain Analytics: Investigating Illicit Cryptocurrency Activity and Victim Advocacy” is a Vertically Integrated Project (VIP) that explores the fast-evolving world of cryptocurrency and blockchain technology through a multidisciplinary lens that integrates computer science, cybersecurity, psychology, criminal justice, law, and policy.

This project will provide valuable insights in the areas of cryptocurrency, blockchain analytics, and digital forensics and aims to contribute to academic research, industry applications, and legal and policy discussions.

In this course, students and faculty researchers will collaboratively investigate real-world issues tied to cryptocurrency use and misuse—including dark web transactions, money laundering, fraud schemes, and victimization—while also building tools to improve transparency and accountability in the blockchain space. The team will engage in quantitative and qualitative research aimed at understanding illicit cryptocurrency-related activity, developing new methodologies for digital forensic techniques, and addressing the legal and human implications of financial cybercrime.

Participants in this VIP will engage in hands-on, interdisciplinary research, including:

• Blockchain Transaction Tracing: apply blockchain analytics techniques to identify and follow the movement of illicit cryptocurrency transactions using industry software and open-source forensics platforms.
• Cryptocurrency-Related Crime Investigations: analyze real-world cryptocurrency-related crimes and use statistical and machine learning methods to identify profiles and patterns to inform prevention strategies.
• Legal and Ethical Frameworks: develop legal documentation, regulatory frameworks, policy recommendations, and best practices for the use of forensic tools in investigations.
• Victim Support and Advocacy: understand the psychological, financial, and emotional impact of cryptocurrency-related crimes on victims, including designing and conducting quantitative and qualitative victim-focused studies; developing resources for support organizations; and creating educational materials to help the public recognize and avoid scams.
• Tool Development and Automation: create or refine software tools that can automate elements of forensic analysis.
• Communication and Advising: publish research insights in academic venues and engage with victim advocacy organizations, private industry stakeholders, law enforcement, and policymakers

• All Saunders College of Business majors, especially Accounting and Analytics; Business Analytics; Finance; and Management Information Systems.
• All Golisano College of Computing and Information Sciences, especially Artificial Intelligence; Computing and Information Technologies; Computer Science; Cybersecurity; Data Science; Humanities, Computing, and Design; Information Technology and Analytics; Software Engineering; and Web and Mobile Computing.
• All College of Liberal Arts majors, especially Criminal Justice; Humanities, Computing, and Design; Legal Studies/Pre-Law; Psychology; and Public Policy.
• Anyone with an interest in the subject matter and research experience.

Background in programming (Python and/or R preferred), basic knowledge of blockchain technologies, and/or coursework in related criminal justice, law, or policy are preferred qualifications. All students will gain hands-on experience with open-source intelligence collection. However, use of industry software is restricted to students who have successfully completed PUBL 589/705 or FINC 489/750 on Cryptocurrency & Blockchain Analytics.

Meeting times and locations will be determined at the beginning of each semester based on team members' availability

• Full Project Team Meetings: held at least once per week to discuss progress, challenges, and next steps.
• Sub-Team Meetings: conducted as frequently as needed to ensure continuous collaboration and alignment on tasks.