A government agency hired Brattle to work on a criminal matter related to an ICO. Brattle acquired and analyzed cryptocurrency transaction data, and used the immutable nature of the blockchain technology to trace asset flows through a web of on-chain routing addresses intended to obscure the flow of funds raised from investors in the ICO. Brattle experts identified the destination addresses of the ICO funds raised, tabulated off-chain cryptocurrency exchange conversions to fiat currency, and identified subsequent fiat currency distributions to bank accounts.