How Bullseye Investigations Tracks Bitcoin and Cryptocurrency Transactions

Cryptocurrency is often described as “anonymous,” which leads many people to believe that tracing funds is either impossible or invasive. The reality is more nuanced. Public blockchains such as Bitcoin permanently record transactions, but they do not record identities. Understanding that distinction is critical.

At Bullseye Investigations, cryptocurrency tracking is conducted lawfully by analysing publicly available blockchain data. The focus is on transaction flow rather than covert surveillance, hacking, or attempting to identify individuals without evidence. This approach allows investigators to establish whether a payment occurred, where funds moved next, whether transactions were split or consolidated, and whether funds entered an exchange or other identifiable service.

Blockchain records show sending and receiving addresses, transaction amounts, timestamps, and confirmation status. They do not show names, phone numbers, email addresses, or physical locations. A wallet address is not a person. It is simply a cryptographic identifier used to move value on a blockchain. Professional investigation relies on following verifiable transaction paths, not speculation.

Many people attempt to track cryptocurrency themselves using online tools. This often leads to mistakes. Bitcoin transactions can include multiple outputs, including leftover funds automatically returned to the sender’s wallet as change. Without understanding this behaviour, people may incorrectly assume funds were sent to multiple recipients or draw conclusions that do not stand up to scrutiny. These misunderstandings can result in false accusations and unnecessary escalation.

Bullseye Investigations applies a structured, evidence-based process when analysing cryptocurrency. This includes reviewing confirmed transactions, distinguishing incoming payments from outgoing spends, recognising likely wallet change behaviour, and following transaction paths across multiple steps where appropriate. Where required, we use internally developed and proprietary analytical code to assist with transaction analysis, pattern recognition, and evidence preparation. These tools are not publicly available and are used only within lawful investigations.

To help clients understand how cryptocurrency tracking works at a basic level, Bullseye Investigations provides a free, browser-based Bitcoin tracking demonstration. This online demo is intentionally limited and educational in nature. It allows users to view public transaction history, see how payments and change outputs operate, and understand the general limits of blockchain visibility.

The basic demo can be accessed here:

https://privatebullseye.github.io/investigations-tools/bitcoin.html

This demonstration does not reflect the full analytical capability used in active investigations. It does not identify individuals, access private data, or bypass privacy protections. Its purpose is transparency and education only.

Cryptocurrency tracking is commonly relevant in matters involving suspected scams, disputed payments, fraud, misappropriation, and due diligence. In many cases, early blockchain analysis helps determine whether further investigation is justified.

Blockchain data is permanent, but interpretation matters. Poorly prepared or overstated crypto tracing can undermine legitimate cases. Bullseye Investigations combines licensed investigative practice with financial and digital analysis experience to ensure cryptocurrency matters are handled carefully, lawfully, and defensibly.

If cryptocurrency is involved in a matter you are concerned about, Bullseye Investigations can explain what is possible, what is not, and what your options are. Our approach is measured, compliant, and focused on evidence rather than assumptions.

Phone: 0468 848 260

Location: Level 1 / 2 Victoria Street, Midland WA 6056 (by appointment)

Website: bullseyeinvestigations.com.au