Examination of a Hot Wallet on an iOS Device from a Digital Forensics Perspective

As we approach the end of the first quarter of the 21st century, crypto assets have emerged as a significant investment tool, widely discussed in economy news and social media platforms. From daily headlines like ‘Bitcoin’s all-time high’ to influencers on social media platforms promoting the latest altcoins, cryptocurrencies are now a staple in financial conversations, shaping investment trends and sparking debates among investors and financial experts alike. The rapid adoption of cryptocurrencies is demonstrated by their increasing integration into various sectors, with companies accepting digital currencies for payments and financial institutions developing services centered around blockchain technology. This indicates a significant shift towards digital assets as a mainstream form of exchange. Moreover, the rapid rise in the popularity of this investment tool also led to a significant increase in the number of individuals seeking to exploit the associated security vulnerabilities. This trend underscores the urgent need for robust forensic methodologies and tools to address the growing challenges malicious actors pose in cryptocurrency. This study aims to explore how blockchain and cryptocurrency within the scope of forensic informatics are encountered by forensic experts through an analysis of various sources. By testing a specialized software designed for the forensic examination of cryptocurrency transactions, preliminary preparations have been made for potential investigative requests from legal authorities. The findings of this research contribute to the development of methodologies that enhance and detail forensic examinations related to cryptocurrencies. The results presented in this study are derived from the widely used hot wallet databases worldwide, providing critical insights for forensic investigations.