「Following the Money」は 、Chainalysis の顧客が実際の現場で当社の製品をどのように活用しているかに焦点を当てたQ&Aシリーズです 。コンプライアンスチームや調査担当者から、暗号資産 普及 を牽引する先駆者たちまで、幅広い事例を取り上げています。
Lieutenant Colonel Chitsanupong Waidee is with the Central Investigation Bureau in Thailand.
What is the biggest misconception about your job?
Many people assume that investigating cryptocurrency crimes is impossible because blockchain is “anonymous.” In reality, blockchain is pseudonymous and, with the right tools like Chainalysis, it becomes highly transparent. Every transaction leaves a trail. The real challenge isn’t visibility; it’s piecing together on-chain data with off-chain intelligence, victims, and sometimes foreign jurisdictions. Once people see how traceable crypto really is, they’re usually surprised.
What’s a case that stuck with you? OR What is the coolest thing you’ve helped solve?
One memorable case involved a large cross-border scam network moving funds from Thailand to scam compounds in Myanmar. By analyzing TRON and Ethereum wallets, we uncovered how scammers laundered money through stablecoins, converted them into cash, and physically smuggled it across borders. This case stood out because it wasn’t just about tracing digital assets; it connected directly to human trafficking and scam victims. Seeing how blockchain analysis helped dismantle part of that network was a reminder of why this work matters.
What’s the most surprising thing you’ve ever uncovered in an investigation?
I was surprised at how quickly illicit actors adapted. In one case, scammers were using legitimate financial platforms, including payment service providers and even banks as exit ramps. It showed me that the abuse of crypto isn’t isolated; it merges with the traditional financial system. Uncovering that link was unexpected and proved how essential collaboration is between law enforcement, regulators, and private companies.
Which type of case is your favorite to work on—hacks, scams, or sanctions?
Scams. Hacks are technically challenging, and sanctions are geopolitically significant, but scams affect ordinary people. Every day, victims in Thailand, and increasingly worldwide lose life savings to romance scams or investment fraud. Investigating scams combines technical blockchain tracing with human stories, and it gives the work a real sense of purpose. When we trace funds and help victims get some justice, it feels like the most meaningful impact.
How has your work changed the way you think about money or trust?
Before working in this field, I saw money mainly as cash or numbers in a bank account. Now I see it as flows across systems. Trust isn’t about institutions alone; it’s about transparency and traceability. Crypto taught me that money can move globally in seconds, but that doesn’t mean it’s untraceable. My perspective shifted; trust in the digital age comes from visibility and accountability, not just tradition.
Can you remember the moment when Chainalysis helped you crack a case?
Yes, during an investigation into a major investment scam, we used Chainalysis Reactor to follow stablecoin transactions. The exposure wheel and flow visualizations made it easy to show colleagues, and even prosecutors, how funds moved from victims’ wallets to exchanges and then into cash-out services. It turned abstract blockchain data into a compelling story that held up in court. That was the moment I realized Chainalysis isn’t just a tool; it’s a bridge between technical investigators and decision-makers.
What emoji best describes your relationship with Chainalysis?
The magnifying glass! Because every time I use Chainalysis, it feels like holding a magnifying glass over the blockchain, suddenly the hidden patterns become clear.
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