You send crypto assets (also known as virtual currencies) to an address, and only that address remains — you have no way of knowing where it went from there. This is a situation many people find themselves in after fraud or hacking. At the same time, others simply want to trace how their own or someone else's wallet is moving, purely for analytical purposes.
The first thing to understand is that anyone can trace an on-chain transfer, but being able to trace it and being able to recover it are two different things. Conflating the two leads people to assume that if a transfer can be traced, it must also be recoverable — and that assumption drives many into signing expensive contracts, which often ends in a second round of victimization.
And if you are facing a real fraud case right now, there is something more urgent than choosing a tracking tool. In Japan, that means contacting the police consultation hotline "#9110," the Consumer Hotline "188," and the Financial Services Agency's (FSA) consultation desk. This article places these official channels at the top of the list, then walks through tracking tools organized by purpose, followed by domestic Japanese investigation firms you can turn to once self-directed tracing hits its limit.
Readers of this article generally fall into one of three groups: people who want to trace transactions themselves for free, people who want to view on-chain activity for investment or research purposes, and people who have lost funds to fraud or a hack and want to trace the destination in order to recover them. Keep in mind which group you belong to as you read on.
What Is Wallet Address Tracking? What It Can (and Cannot) Reveal
Wallet address tracking means following the transaction records publicly available on a blockchain to visualize where funds have moved. Sorting out upfront what tracking can and cannot reveal will keep both your choice of tools and any decision to hire an investigator on solid ground.
Blockchains Are Public Ledgers — Anyone Can View Addresses and Transactions
On public chains such as Bitcoin and Ethereum, every transaction is recorded on a public ledger that anyone can view. The sending address, receiving address, amount, timestamp, and fee all remain visible — simply paste an address into a block explorer in your browser and you can trace that account's full deposit and withdrawal history.
It's worth noting that this openness means the system is "pseudonymous," not "anonymous." An address itself is not tied to a name, but the chain of transactions never disappears — it stays on the ledger permanently. That is precisely what makes an address a starting point for tracing the flow of funds. If that address has ever passed identity verification (KYC) at an exchange or service, there is a possibility of connecting it to a real person.
What You Can — and Cannot — Trace on Your Own
Even though the public ledger is visible, there are limits to how far an individual can trace things alone. Once funds pass through a mixer (a service that blends transactions to obscure their origin), cross over a bridge to another chain, or flow into a wallet at an overseas exchange, following the ledger alone is no longer enough to keep the trail going.
Even more important: being able to trace funds and being able to recover them are separate matters. Even if you identify the destination address, there is no way for a victim to independently determine the name or address of the person controlling it. And even if you learn that the funds are sitting at an exchange, freezing the account or forcing the exchange to disclose customer information requires a police investigation or legal proceedings through a lawyer. Tracking is, at most, a means of establishing facts — on its own, it does not bring your money back. Understanding this distinction from the outset is the first step toward avoiding wasted expense and disappointment.
Choose by Purpose — Which Type of User Are You?
There are many tracking tools out there, but the best choice depends on your purpose. Rather than reaching for the most feature-rich option, you'll get to your goal faster by starting from the entry point that matches your situation. Check which of the following three types you're closest to before you begin.
- Free explorer type: You just want to check a specific address's balance and transaction history with your own eyes. Free tools such as Etherscan are the entry point here.
- On-chain analytics type: You want to see the flow of funds visualized, or read fund movements through labeled addresses. If your purpose is investment decisions or research, tools built for visualization suit you best.
- Fraud fund-tracing type: You've lost assets to fraud or a hack and want to trace the destination in order to recover them. The typical path is to narrow things down with free tools first, and once you hit the limits of what you can do alone, move on to a domestic investigation firm, a lawyer, or an official consultation channel.
From here, we'll first organize free, overseas-based tools you can use to trace things yourself in a comparison table, and then introduce domestic Japanese investigation firms that specialize in tracing fraud-related funds.
[Free] Tracking Tools and Apps You Can Use Yourself
If you're only trying to trace your own address, or the address of whoever received your funds, free tools alone can reveal quite a lot. All of the tools listed here are services developed overseas, and none of them offer a Japanese-language support desk. Their interfaces are also in English by default. They differ in whether Japanese-language manuals are available and which chains they support, so choose based on your use case. The list below is organized by "who it's for," not by ranking.
Tool | Supported Chains | Main Use | Pricing | Japanese Support | Official URL |
|---|---|---|---|---|---|
Etherscan | Ethereum-based (EVM) | Check address balances and transaction history, CSV export | Free | English UI, no support desk | |
Blockchair | BTC, ETH, and 40+ chains | Cross-chain search across multiple chains | Free (some paid features) | English UI, no support desk | |
DeBank | Mainly EVM chains, and more | View DeFi assets and activity by address | Free | English UI, no support desk | |
Arkham | BTC, ETH, and other major chains | Visualize transactions as a network graph | Free tier available | English UI, no support desk | |
Nansen | ETH and other major chains | Track fund movements using labeled addresses | Free tier available (core features paid) | English UI, no support desk | |
Bubblemaps | ETH, Solana, and more | Display holding distribution and wallet relationships as bubble maps | Free tier available | English UI, no support desk | |
MetaSleuth | BTC, ETH, and other major chains | Visualization specialized for tracing stolen funds | Free tier available | Official Japanese manual available (UI is in English) |
Broadly sorted by use case: if you just want to see what's in an address, Etherscan is the place to start. If you need to search across multiple chains, Blockchair fits. For tracking DeFi asset movement, DeBank works; for viewing fund flows as a visual overview, Arkham or Bubblemaps tend to be the most readable. If you want to read movements using labeled address information, Nansen is built for that, and MetaSleuth comes closest to a tool purpose-built for tracing stolen funds. Since MetaSleuth has an official Japanese manual, it's probably the easiest entry point if you're specifically tracing fraud-related losses.
With every one of these tools, you can paste in an address and "see" the flow of funds for free. But the moment the other party routes funds through a mixer or an overseas exchange, individual tracing hits a dead end. From that point on, you need a professional setup.
Where DIY Tracing Ends — Turn to Fund-Tracing Specialists for Fraud and Theft Cases
Even if free tools get you part of the way, figuring out "where the funds ultimately ended up" and "how to turn that into evidence you can hand to the police or a lawyer" is beyond what an individual can manage alone. From here, we'll look at what specialized investigation firms actually do, the criteria for choosing one, and which domestic Japanese firms accept inquiries from individuals.
What a Specialized Investigation Firm Can Do
Crypto asset investigation firms (blockchain forensics companies) handle the work of establishing the facts on the blockchain and organizing them into a form that can be used as evidence. Their work generally covers:
- On-chain fund tracing: Following the path funds took from a compromised address to determine where they ultimately came to rest at an exchange, or whether they were converted to cash.
- Evidence preservation and reporting: Compiling the data gathered through tracing into an analysis report usable in a police report or legal proceedings.
- Technical support for freeze requests to exchanges: When a destination is identified, providing evidence data to notify the relevant exchange of the theft and prompt it to restrict the account.
It's worth drawing a firm line here: what an investigation firm can do stops at "establishing the facts." Identifying the perpetrator, negotiating a refund with the other party, or seizing assets are not within an investigation firm's authority. Negotiating a refund or pursuing legal recovery is the role of a lawyer; a criminal investigation is the role of the police. Think of an investigation firm as the party that hands "objective evidence" to both of those actors. We cover this division of roles in more detail in a separate article, "What Is a Crypto Fraud Investigation Firm?" (in Japanese).
How to Choose an Investigation Firm Without Getting Burned
Choosing the wrong firm can pile further loss on top of your existing damages. Before signing any contract, always check the firm's fee structure and its legitimacy as a business. Here's what to verify:
- Does it flatly claim it "can always recover your funds"? As Japan's National Consumer Affairs Center and the FSA have repeatedly warned, any firm promising "100% refund" or "guaranteed recovery" is a red flag. No firm can legitimately guarantee recovery.
- Does it dismiss official consultation channels? A firm that treats consulting the police or 188 as unnecessary is not trustworthy.
- Is it negotiating refunds without a lawyer's license? Under Article 72 of Japan's Attorney Act, a company without an attorney's license accepting payment to negotiate a refund on your behalf may constitute unauthorized legal practice. Be cautious of any explanation along the lines of "we'll negotiate with the other side ourselves and get your money back."
- Is the fee breakdown clearly disclosed? In crypto fraud investigations in Japan, the initial investigation is commonly free, while the follow-up investigation is often structured as a success fee — typically "a few percent of the loss amount and up." A success-fee structure isn't inherently a problem, but you should confirm in writing whether there's an upfront retainer, what conditions trigger additional costs, and whether report preparation is included.
- Can you verify the company actually exists? Check whether each firm discloses its corporate registration, the address of its operating company, the notice required under Japan's Act on Specified Commercial Transactions, and whether it holds a detective business registration. If a registration number isn't listed, ask about it directly when you make contact.
A firm that can answer all five points transparently is worth considering as a technical partner. If a firm fudges even one of them, that's the point to stop and walk away.
Domestic Japanese Investigation Firms Individuals Can Consult
Below are domestic Japanese investigation firms that accept inquiries from individuals. All of them handle fund tracing and evidence preparation; actual refund negotiation remains the role of a lawyer or an official consultation channel in every case. Pricing and services are based on each firm's official website (as listed at the time of writing). Actual costs vary by case, so always confirm a quote when you consult.
Company | Operating Entity | Contact | Initial Investigation | Estimated Cost (as listed on each site) | Location | Official URL |
|---|---|---|---|---|---|---|
Cyber Guard | Cyber Guard Co., Ltd. | LINE, phone | Free (notifies you of the likelihood within 5 minutes) | Follow-up investigation: contact for a quote | Okachimachi Green Heights 1005, 6-1-6 Ueno, Taito-ku, Tokyo | |
Block Trace Japan | Block Trace Japan Co., Ltd. | LINE, contact form | Free (initial consultation + TXID first-pass analysis) | Follow-up investigation: contact for a quote | Nihonbashi Kayabacho Office 3F, 1-7-1 Shinkawa, Chuo-ku, Tokyo | |
Crypto Lab Insight | Crypto Lab Insight Co., Ltd. | LINE, phone | Free | Follow-up investigation: 2%+ of loss amount | TRUST Shin-Okachimachi 801, 2-20-6 Misuji, Taito-ku, Tokyo | |
OMG Service | OMG Service GK | LINE, phone | Free | Follow-up investigation: 2%+ of loss amount | Tensho Office Ochanomizu 6F, 1-9-5 Kanda-Awajicho, Chiyoda-ku, Tokyo | |
Crypto Fraud Victim Support Organization (RETICE) | RETICE Inc. | LINE, phone, contact form | Free | Follow-up investigation: 2%+ of loss amount | 9-21-32 Togashira, Toride, Ibaraki (registered head office) | |
Senba Research | Senba Holdings Inc. | LINE | Free | Follow-up investigation: quote provided | Az Hatchobori Building 7F, 1-12-10 Minato, Chuo-ku, Tokyo |
Individual profiles of each firm follow below.
Cyber Guard — Cyber Guard Co., Ltd.
Cyber Guard Co., Ltd. is an investigation firm based at Okachimachi Green Heights 1005, 6-1-6 Ueno, Taito-ku, Tokyo. It accepts inquiries related to a wide range of fraud beyond crypto assets, including FX, stock investment scams, and multi-level marketing schemes. Contact is available via LINE or phone, with consultations accepted 24/7. The initial investigation is free, and the firm states it can notify you of the likelihood of recovery within five minutes. It suits people who want an easy, low-barrier way to get an initial read on their situation. Confirm follow-up investigation fees directly when you inquire.
Official site: https://cyber-guard.co.jp
Block Trace Japan — Block Trace Japan Co., Ltd.
Block Trace Japan Co., Ltd. is based at Nihonbashi Kayabacho Office 3F, 1-7-1 Shinkawa, Chuo-ku, Tokyo, and positions itself around a victim-support-focused structure. It has received press coverage from outlets including PR Times, Nikkei, and the Tokyo Shimbun, giving it relatively high public visibility. The firm handles cross-chain analysis across BTC, ETH, BNB, Polygon, and TRON, and covers everything from freeze requests to overseas exchanges through to preparing reports for submission to the police or a lawyer. The initial consultation and first-pass TXID analysis are free, with nationwide, anonymous consultations available. It suits people who want the tracing work to lead directly into legal follow-through, not stop at the analysis stage.
Official site: https://blocktracejapan.co.jp
Crypto Lab Insight — Crypto Lab Insight Co., Ltd.
Crypto Lab Insight Co., Ltd. is based at TRUST Shin-Okachimachi 801, 2-20-6 Misuji, Taito-ku, Tokyo, and handles fund tracing alongside preservation of digital evidence. It publishes case studies on its official site, including loss amounts, victim age brackets, and outcomes, making it easier to check the kinds of cases it has handled before reaching out. Contact is via LINE or phone. The initial investigation is free, and the follow-up investigation fee is listed starting at 2% of the loss amount (as of the time of writing). It suits people who want to review a track record before deciding.
Official site: https://crypto-lab.co.jp
OMG Service — OMG Service GK
OMG Service GK is an investigation firm based at Tensho Office Ochanomizu 6F, 1-9-5 Kanda-Awajicho, Chiyoda-ku, Tokyo. It advertises investigations built on a proprietary database of fraud operators compiled from past cases, alongside evidence collection. Contact is via LINE or phone. The initial investigation is free, and the follow-up investigation is listed starting at 2% of the loss amount (as of the time of writing). Since refund negotiation itself remains the role of a lawyer or an official channel, it's worth confirming during your consultation how the evidence gathered will feed into the next step.
Official site: https://omg-service.co.jp
Crypto Fraud Victim Support Organization (RETICE) — RETICE Inc.
RETICE Inc. (registered head office at 9-21-32 Togashira, Toride, Ibaraki) operates the "Crypto Fraud Victim Support Organization," which offers an investigation structure specializing in blockchain analysis and transaction-history tracing. Contact is via LINE, phone, or a contact form. The initial investigation is fully free, and the follow-up investigation is listed starting at 2% of the loss amount (as of the time of writing). It primarily handles tracing for crypto fraud and romance scam cases.
Official site: https://reticeresearch.com
Senba Research — Senba Holdings Inc.
Senba Holdings Inc. (Az Hatchobori Building 7F, 1-12-10 Minato, Chuo-ku, Tokyo) operates Senba Research, which states it handles everything from analyzing transaction history and destination addresses to identifying the fraud operator and the flow of funds, through to preparing documentation to certify the loss. Contact is via LINE, and consultation plus the initial investigation are free. The follow-up investigation is quoted individually. It suits people who want their case organized into documentation intended for submission to the police or a lawyer.
Official site: https://sb-research.ne.jp
Every one of these firms lets you start with a free consultation and initial investigation. That said, they share a common pattern: once you move to a follow-up investigation, a success fee or percentage-based cost tends to apply. Follow the checklist above and always confirm the fee breakdown, plus how the firm coordinates with a lawyer and the police.
Before You Start Tracing — Immediate Steps and Official Channels for Victims
We've covered tools and investigation firms, but the moment you realize you've been victimized, your top priority should be preserving evidence and contacting official consultation channels. Getting the order wrong can turn a recoverable situation into an unrecoverable loss.
As soon as you notice a problem, save what you have. Exchange transaction history, the destination address, the transaction hash (TxID) that identifies the transfer, and screenshots of any exchanges with the other party — all of this often becomes permanently unavailable once the other party deletes their account. Save screenshots and preserve the data before you try to confront anyone.
From there, consult the following channels:
- Police consultation hotline "#9110": a nationwide number for reporting fraud and similar trouble. For an active emergency, call 110. This is the starting point for filing a police report and initiating an investigation.
- Consumer Hotline "188": dial without an area code to reach your nearest Consumer Affairs Center, where you can get specific guidance based on past cases.
- FSA Financial Services User Consultation Office (0570-016811): accepts inquiries about whether a crypto exchange business is registered and reports of suspicious solicitations.
- The exchange you used: if you notice an unauthorized transfer, contact your exchange immediately as well.
It bears repeating: avoid paying a large sum to a firm on your own, bypassing official channels, just because it uses reassuring language like "we can definitely get it back." Secondary victimization targeting fraud victims is a serious, ongoing problem — cases where someone hires an investigator only to be defrauded a second time are common. Remember the order of operations: the authority to pursue legal recovery lies with lawyers and the police, and an investigation firm's role is to prepare evidence before that stage. When you're ready to consider consulting a lawyer, see our separate article, "Consulting a Lawyer Experienced in Crypto Fraud" (in Japanese), for more.
Summary — Free Tools Can't Trace Everything. When You Hit a Wall, Turn to Official Channels and Professionals
Tracing a wallet address can get you surprisingly far using free tools alone — at least as far as "seeing" the flow of funds. But the moment the other party routes funds through a mixer or an overseas exchange, individual tracing hits a dead end. And even if you do trace the funds, that alone doesn't bring your money back. Recovery requires a police investigation and legal proceedings through a lawyer.
If you're facing this right now, the order is simple: preserve your evidence, and consult the Consumer Hotline "188" or the police "#9110" first. From there, if you're considering pursuing a refund or an account freeze, talk to a lawyer experienced in crypto cases. If you determine you need a detailed fund-tracing report, consider a domestic investigation firm. Following this order is the surest way to prevent secondary victimization and maximize your chances of recovery.
Don't carry this alone — reach out to a trustworthy channel first. This site offers an objective look at the process from fund tracing through legal proceedings, as well as how to choose who to consult. Use our victim consultation resources and related articles as material to help you calmly decide your next step.
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FAQ — Frequently Asked Questions About Wallet Address Tracking
Q. Can free tools trace everything completely?
A. Free tools can get you as far as "seeing" balances and transaction history. But once funds pass through a mixer, a bridge, or an overseas exchange, individual tracing hits a dead end. Identifying the final destination and turning it into usable evidence requires a professional setup.
Q. Can funds sent to an overseas exchange be traced?
A. You can trace the movement recorded on the ledger, but getting that exchange to freeze the account or disclose customer information requires police investigative cooperation or legal proceedings through a lawyer. Treat "being able to trace" and "being able to recover" as two separate things.
Q. What's the typical fee range for an investigation firm?
A. Many domestic Japanese firms offer the consultation and initial investigation for free. The follow-up investigation is commonly structured as a success fee starting around "2% of the loss amount" (based on each firm's website, as of the time of writing). Confirm in writing, before signing anything, whether there's an upfront retainer and what conditions trigger additional costs.
Q. Should I consult the police or an investigation firm first?
A. Official channels come first. Consulting the police ("#9110") or the Consumer Hotline ("188") is the foundation for every subsequent legal step. Engaging an investigation firm makes the most sense once the police or a lawyer determines that "a detailed analysis report would help move the process forward."
This article is for informational purposes only and does not constitute financial or investment advice. Please consult a qualified professional before making investment decisions.
