Fraud across the decentralized finance (DeFi) ecosystem is growing, with victims losing billions to DeFi scams every year. However, there is a disconnect between the reported value of these scams and associated legal prosecutions. We use open-source investigative tools to (1) triage Ethereum tokens extracted from the Ethereum blockchain for further investigation, (2) investigate potential frauds involving these tokens using on-chain data and token smart contract analysis, and (3) investigate the ways proceeds from these scams were subsequently laundered. The analysis enabled us to (1) identify a set of tokens meriting further investigation, (2) uncover transaction-based evidence of several rug pull and pump-and-dump schemes, and (3) identify their perpetrators' money laundering tactics and cash-out methods. The rug pulls were less sophisticated than anticipated, money laundering techniques were also rudimentary and many funds ended up at centralized exchanges. This study demonstrates how open-source investigative tools can extract transaction-based evidence that could be used in a court of law to prosecute DeFi frauds. Additionally, we investigate how these funds are subsequently laundered.

翻译：去中心化金融（DeFi）生态中的欺诈行为日益猖獗，受害者每年因DeFi骗局损失数十亿美元。然而，这些骗局报告的损失金额与相关法律诉讼之间存在脱节。我们利用开源调查工具：(1)对从以太坊区块链提取的代币进行初步筛查以确定需深入调查的对象，(2)通过链上数据与代币智能合约分析，调查涉及这些代币的潜在欺诈行为，以及(3)研究这些骗局收益后续的洗钱路径。通过分析，我们能够：(1)识别出一组值得深入调查的代币，(2)揭露多种“拉地毯”骗局（rug pull）和“拉高出货”计划（pump-and-dump）的交易证据，以及(3)锁定实施者的洗钱策略与变现手段。这些“拉地毯”骗局的技术复杂度低于预期，洗钱手法也较为粗糙，多数资金最终流入中心化交易所。本研究展示了开源调查工具如何提取可被法庭采纳的交易证据，用于起诉DeFi欺诈行为。此外，我们进一步探究了这些资金的后续洗钱过程。