10 Best Blockchain Analysis Tools

Coinpath

• August 18, 2020

When a former FBI special agent Ilhwan Yum described how he traced 3,760 bitcoin transactions over 12 months ending in August 2013 from Silk Road servers to Ross Ulbricht’s laptop, it was almost a done deal for Silk Road creator “Dread Pirate Roberts” aka Ross Ulbricht.

To accomplish this, Yum followed more than 700,000 bitcoins on the blockchain, from the Silk Road marketplace to Ulbricht’s personal wallets. It was the first time people realized the potential of blockchain analysis to solve a criminal investigation. Today, blockchain analysis technology is used by financial institutions, crypto businesses, and law enforcement authorities to prevent and investigate cryptocurrency crimes worldwide.

Financial Crime in a world of cryptocurrency

Cryptocurrencies are internet native currencies powered by blockchain technology. All the transactions are visible on the blockchain; however, blockchains do not contain real-world identities. Therefore associating these activities with real-world actors and stopping criminals is an ongoing challenge. Crypto trading bots and exchanges and other services are generating billions of crypto transactions every day, at the same time getting hacked now and then.

With the rise of new memecoin creation platforms like Sunpump and Pumpfun, the number of ways novice investors can be misled has grown.

Bitquery has been investigating funds lost to scams and malicious social engineering schemes, with losses ranging from a few thousand to several million USDT.

What is the blockchain analysis?

Blockchain analysis is a process of investigating, classifying, and monitoring blockchain addresses and transactions to understand the activities of various actors on the blockchain.

Crypto businesses must deploy blockchain analysis solutions to be regulatory compliant and prevent the exposure of illicit funds to their businesses.

Blockchain analysis tools in a nutshell

Blockchain analysis solutions provide a full suite of transaction monitoring, risk assessment, and investigations tools. The core idea is to associate blockchain addresses with real-world identities and provide tools to analyze the transaction activities. The following are the primary functions of a blockchain analysis tool.

Address Classification — One of the main applications of blockchain analysis software is to associate blockchain addresses with real-world identities. Without it, nothing will make sense; therefore, these tools apply multiple techniques to identify real-world entities on the blockchain.

Transaction monitoring and Risk analysis — Monitor every transaction related to your businesses and assess risk based on the fund’s origin, money flow, and the history of sender or recipient wallets.

Investigation tools — provide visualization tools to investigate transactions and blockchain addresses manually.

Blockchain analysis Technology: Under the hood

As we mentioned above, the primary functions of blockchain analysis products, let’s also look at how these products achieve this functionality with technology.

Classification and identification — Blockchain analysis tools use methods like clustering algorithms, wash trading, scam database monitoring, and dust attacks to understand the real-world identity of blockchain addresses. Clustering is the most common way using which analysis software identifies entities like exchanges, payment processors, wallets, etc.

Risk analysis is performed by creating risk models and train them using machine learning to provide a risk score to every blockchain transactions. Risk models are based on multiple parameters such as transaction amount, the origin of funds, and money flow history.

Investigation Tools are the graphic interface representing transaction graphs to understand the association among them.

Best blockchain analysis software and tools

Coinpath® MoneyFlow by Bitquery

MoneyFlow by Bitquery is a crypto investigation platform built for law enforcement, forensic teams, and financial crime analysts. It provides auto-tracing, multi-level entity resolution and case management across 40+ blockchains including Bitcoin, Ethereum, Solana, and Tron. It can also follow tainted, commingled funds through DEXs, bridges, and mixers.

Counterparty Information: MoneyFlow labels whales, flagged accounts, scams, and heists, so you know who is on the other side of a transaction before you act on it.

Auto Tracing: Custom tracing algorithms track relationships between wallets and CEXs, and trace the origin of funds that pass through mixing services.

Compliance: MoneyFlow supports KYC and AML compliance workflows, including sanctions screening and counterparty checks.

Custom Reports: MoneyFlow generates transaction histories and risk assessments you can hand to a compliance officer or attach to a case file.

Real-time Data: The same investigation workflows run on low-latency real-time onchain data for chains like Solana, so you can catch deposits, withdrawals, and trades as they happen. If you want to build your own monitoring pipeline, Bitquery also offers real-time data streams over Kafka, gRPC, and WebSocket — the Kafka streams carry complete, unfiltered onchain data across 40+ chains, which is what trading desks and alerting systems use when a webhook service is too slow.

AI-ready access: Bitquery runs an MCP server that connects Claude, Cursor, ChatGPT, or any MCP-compatible client directly to its onchain dataset, so investigators can query DEX trades, wallet activity, and market data in plain English. Query examples and schema references live in the documentation.

Scalability vs Pricing: Unlike most tools on this list, Bitquery publishes its pricing. Plans start at $39/mo (Personal, 100k API points), the Pro plan at $79/mo adds commercial use and 100 concurrent streams, and the Scale plan at $239/mo covers all onchain data streams, mempool access, and 1,000 concurrent streams. Enterprise plans add full historical data for 40+ chains, Kafka delivery, and S3 bulk export. There is also a 7-day free trial with live WebSocket streaming, no card required. MoneyFlow and investigation services are priced separately — contact the team for a quote.

Uppsala Security

Uppsala Security provides risk management solutions for cryptocurrency AML, Regulation Compliance, and cybersecurity. Established in January 2018, Uppsala Security built the first crowdsourced threat Intelligence platform known as the Sentinel Protocol. Uppsala products include

Crypto Analysis Risk Assessment (CARA) uses machine-learning technology to classify the risk level of crypto addresses based on learned behaviors of both known malicious wallets and normal wallets.

Crypto Analysis Transaction Visualization (CATV) is a crypto forensic tool that tracks both incoming and outgoing transactions of an inspected wallet. It provide a visual interface to analyze the flow of tokens and the types of wallets with which it interacts, helping find suspicious flow behavior.

Uppsala Security

TRM Labs

TRM helps financial institutions to fight crypto money laundering activities, prevent fraud, and stay in compliance. TRM Labs products include:

TRM Forensics is an easy-to-use interface for cryptocurrency investigation. You can visualize transactions and blockchain money flow with automated cross-chain path detection.
TRM Monitor continually screens wallets and transactions against global sanctions lists and risk categories, and provides risk scores by monitoring irregular behavior and patterns.
TRM Agents is TRM's agentic AI capability that lets investigators ask questions in natural language and automatically trace funds across chains and bridges.

TRM Labs

Elliptic

Elliptic is used by major crypto exchange and financial institutions worldwide. It provides multiple solutions for cryptocurrency compliance and blockchain investigation. Some of the Elliptic products include:

Elliptic Lens gives you the insight you need to protect your business and your customers. Lens is used by fraud, compliance, and operations teams to provide exposure for crypto wallets, giving you insight into who is behind each address as well as the money flow in the wallet.
Elliptic Navigator’s powerful tracing capabilities and configurable risk rules bring a consistent and accurate understanding of the source and destination of funds, for over 100 crypto assets.

Elliptic

Chainalysis

Chainalysis is one of the leading blockchain analysis companies which provides compliance and investigation software to banks, crypto businesses, and government agencies. It offers multiple tools for transaction monitoring, risk assessment, and visualization.

Chainalysis KYT (Know Your Transaction) detects risky cryptocurrency transactions from darknet markets, scams, and sanctioned addresses in real time. It provides an easy to use interface to analyze and investigate transactions.

Reactor helps you visualize blockchain money flow for any cryptocurrency address, such as Bitcoin or Ethereum. It also provides information on the real-world identity of blockchain addresses, which is critical for cryptocurrency investigations.

Hexagate, acquired by Chainalysis in 2024, uses machine learning to detect and prevent hacks and on-chain threats in real time.

Alterya, acquired in 2025, is an AI-powered fraud detection product that screens transactions to protect users from scams before funds leave their wallets.

Chainanalysis

AnChain.AI

Founded in 2018, AnChain provides a suite of cryptocurrency compliance and investigation products powered by artificial intelligence. Some of the AnChain products include:

Blockchain Ecosystem Intelligence API (BEI API) provide real-world identity information for blockchain addresses and risk analysis for crypto transactions.
Compliance. Investigation. Security Operation (CISO) is a visualization product to analyze blockchain transactions manually and addresses with their real-world identity attached.
Smart Contract Auditing Sandbox (CAS) is a sandbox, which analyzes the source code of millions of Ethereum smart contracts to provide the security score of any Solidity-based smart contract.

anchain.ai

Merkle Science

Merkle Science provides predictive crypto risk and intelligence solutions for crypto businesses, financial institutions, and government agencies, covering 10,000+ assets and 200+ bridges. Merkle Science products include:

Compass provides real-time, behavior-based transaction monitoring for AML, KYC, and sanctions compliance.
Tracker identifies and traces illicit cryptocurrency activity such as hacks, scams, and exploits, with cross-chain tracing support.
KYBB (Know Your Blockchain Business) enables advanced due diligence on crypto businesses and counterparties.

Crystal Intelligence

Crystal Intelligence (formerly Crystal Blockchain) provides real-time blockchain analysis, investigation, and compliance solutions to financial institutions, law enforcement, and regulators, covering 330+ blockchains and 10,000+ digital assets.

Crystal Expert is a cloud-based blockchain analytics platform for crypto investigators and compliance teams, with visual tracing and entity labeling.
Crystal APIs provide fully automated transaction monitoring built for financial organizations with a high volume of transactions, such as exchanges, payment processors, and trading services.
Real-time monitoring screens wallets against sanctions and blocklists and flags high-risk activity as it occurs.

Crystal Blockchain

Lukka (formerly Coinfirm)

Coinfirm, founded in 2016 by the ex-AML leadership of the Royal Bank of Scotland, was acquired by Lukka in 2024, combining Coinfirm's blockchain analytics with Lukka's audited, institutional-grade digital asset data. The combined offering includes:

AML and compliance solutions that help crypto businesses monitor addresses and transactions in real time, with sanctions screening and entity due diligence.
On-chain analytics and investigations backed by audited datasets for compliance, risk, and forensic teams.

Solidus Labs

Solidus Labs is automated market surveillance and risk monitoring hub tailored for digital assets. It manages all compliance in one place and minimizes risk and costs. Solidus products include.

Market surveillance and transaction monitoring solutions help in identifying wash-trading and spoofing to crypto-specific threats like cross-market manipulation.
Unified risk and case management help you to avoid threats, operational headaches, and manage your compliance in unified, intuitive, and collaborative interface tailored for digital assets.

Solidus Labs

Wrapping up

Unlike traditional finance, blockchain technology enables permissionless innovation. The availability of open data allows makers to build advanced tracking software.

Today, blockchain companies are protecting thousands of businesses worldwide and helping law enforcement agencies to prevent cryptocurrency crimes.

However, there is always a concern about user privacy with blockchain analysis technologies. But, it is the only way to identify cryptocurrency-related criminal activities. Without them, both law enforcement agencies and crypto businesses are almost blind. Therefore, we believe blockchain analysis software are vital for mass crypto adoption and sustainability.

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