From FBI investigations to crypto compliance
Stephanie Talamantez has seen both sides of the digital asset world. She spent years as an FBI Special Agent investigating cryptocurrency crimes, and now helps recover stolen assets at Guidepost Solutions. Her experience gives her a unique perspective on how fraud works in this space, and what companies are getting wrong about compliance.
I think her background is interesting because she started looking at crypto crimes back in 2014. That’s early, really early. She watched the technology develop alongside the criminal methods that exploit it. That dual perspective lets her spot risks that others might miss, patterns that aren’t obvious unless you’ve seen how investigations actually work.
The rise of sophisticated social engineering
One trend she’s noticed recently is the surge in social engineering scams. These aren’t just simple phishing emails anymore. Bad actors are gathering personal information from data breaches, social media, and other sources to create highly convincing scenarios.
They might pose as customer support, using enough real details about a person to override their initial hesitation. The victim thinks they’re securing their assets, but they’re actually transferring them to criminals. What’s concerning is that even financially savvy people are falling for these schemes. The anxiety around losing crypto assets creates this perfect environment for manipulation.
Tracing stolen funds across blockchains
Talamantez describes tracing as both an art and a science. With chain hopping, decentralized exchanges, and bridges, it gets complicated quickly. There are blockchain explorers and commercial tools available, but effective tracing usually requires combining multiple methods.
Some platforms have their own internal explorers that list hot wallet addresses. Investigators need to match USD values and timestamps across swaps. The key, she says, is staying flexible and constantly updating your toolkit. There’s no one-size-fits-all solution because different fraud schemes look different on-chain.
Compliance gaps and regulatory uncertainty
Here’s where things get tricky. The digital asset industry has been hesitant to adopt the same compliance standards as traditional banking. But crypto inevitably interacts with banks, which are subject to established regulations. The gaps typically appear in KYC/AML procedures and transaction monitoring.
Many decentralized platforms lack robust controls. Financial institutions might not have the tools to fully trace transactions or assess risk properly. This makes banks reluctant to partner with crypto companies. And many crypto firms are taking a “wait and see” approach due to shifting regulations, which could create vulnerabilities later.
International collaboration is another challenge. Crypto moves quickly across borders, making traditional legal processes impractical. While some exchanges comply with international subpoenas, they don’t always honor third-party requests. Law enforcement has to be involved for asset recovery, but resources are stretched thin.
Practical advice for protection
Talamantez offers some straightforward advice. First, pause before you act. If someone contacts you about your crypto, hang up and verify through a trusted channel. Don’t click unsolicited links. That moment of hesitation can prevent fraud.
For companies, she suggests establishing strong compliance frameworks from the start. Get third parties to stress-test them. But perhaps most importantly, focus on training employees. Most corporate fraud incidents come from human factors—people clicking phishing links, sharing information, or reusing passwords.
The regulatory focus seems to be shifting toward stablecoins, with other areas remaining in a gray zone. Financial institutions should prepare their infrastructure for stablecoin integration and strengthen their transaction monitoring systems.
It’s a complex landscape, but Talamantez believes thoughtful controls can limit criminal activity without stifling innovation. The key is finding that balance, which is easier said than done.
