A European leader in crypto-asset investigations, blockchain tracing and arbitration-focused digital forensic analysis.
Complex Digital Investigations for Crypto Disputes
RAID Square is the leading European firm dedicated to complex digital investigations in the crypto-asset environment.
Crypto-asset arbitration rarely turns on a single transaction. It turns on the architecture behind it.
Their work combines deep blockchain tracing capabilities with advanced smart contract analysis to provide courts, arbitral tribunals and counsel with technically rigorous and legally usable evidence.
Core Expertise
Onchain Investigations
Tracing digital asset flows across protocols, exchanges and jurisdictions. Wallet attribution, asset movement reconstruction, counterparty identification and cross-chain analysis designed for arbitration-grade evidentiary standards.
Smart Contract Analysis
Decoding governance structures, vesting schedules, mint and burn mechanics, upgradeability rights and administrative controls embedded within protocol code.
Arbitration Support
Technical investigations tailored for international disputes, expert proceedings, pre-litigation assessments and enforcement strategy support.
How are crypto-asset investigations actually conducted?
The strength of a blockchain investigation lies not only in what it concludes, but in how those conclusions were reached.
RAID Square CEO Sébastien Martin describes effective crypto investigations as requiring a rigorous and transparent methodology. The objective is to produce analysis that can be reproduced, tested and capable of withstanding scrutiny.
Identify the relevant wallets
The investigation begins by identifying the blockchain addresses, wallets and transactions relevant to the assets or activity under examination.
Reconstruct transaction flows
Investigators follow the movement of assets across wallets, exchanges, protocols and blockchains to reconstruct the transaction path.
Document each analytical step
The methodology and reasoning behind the investigation must be recorded clearly so that the analysis can be understood and independently examined.
Corroborate the findings
Conclusions are tested against multiple sources and indicators rather than relying on a single analytical signal.
Reproducibility matters as much as the conclusion.
For practitioners involved in digital asset disputes, the value of a crypto investigation lies in the robustness and transparency of its methodology. Technical analysis may ultimately need to be explained to counsel, experts, courts or arbitral tribunals — making a clear and defensible evidential process essential.
Blockchain tracing can reveal movement. It cannot promise recovery.
Blockchain analysis can show how assets have moved and may help identify relevant actors, wallets or exchanges. It does not, however, guarantee identification of the ultimate beneficiary or recovery of the assets. A rigorous investigation must therefore be equally clear about the possibilities and the limitations of blockchain forensics.
Arbitration Meets Blockchain Complexity
Blockchain systems are transparent by design — but transparency alone does not produce clarity. Crypto disputes frequently involve fragmented corporate structures, anonymous wallet systems, evolving smart contracts and rapidly moving digital assets across jurisdictions.
Wallet Attribution
Identifying the entity controlling a wallet address is often the most difficult aspect of a crypto dispute.
Verifiable Evidence
Blockchain records are immutable, but arbitral proceedings require evidence that is structured, interpretable and admissible.
Jurisdictional Complexity
Crypto platforms often operate through layered offshore entities with changing arbitration clauses and shifting legal structures.
Smart Contract Risk
Administrative privileges, governance rights and upgradeability functions embedded in smart contracts can fundamentally alter the economic reality of a dispute.
Shaping the Future of Crypto Arbitration
RAID Square initiated and co-chairs, alongside Professor Mathias Audit, the ICC France ad hoc working group on arbitration and crypto-assets.
The company also organises leading reference events during Paris Arbitration Week, contributing to the development of Paris as a major centre for crypto-related disputes.
Technical Clarity for High-Stakes Crypto Disputes
Where blockchain evidence, smart contracts and international disputes intersect, RAID Square provides the investigative precision required to support defensible legal outcomes.