People like to think that using bitcoin makes your transactions anonymous. But it's way more traceable than everyone thinks.

Buried in last month’s special counsel indictment of 12 alleged Russian spies was an explanation of how law enforcement used the blockchain, the network which facilitates bitcoin transactions, to track and identify the suspects through their cryptocurrency transactions.

One blockchain developer, Tim Cotten, even traced bitcoin purchases back to Russia’s intelligence agency, the GRU, using only public information. Cotten showed VICE News how just about anyone with a bitcoin wallet could do the same.

Because every bitcoin transaction is recorded on a public ledger, law enforcement can trace back bitcoins to its origins. Once you trace enough steps back, an investigator could typically find some place where bitcoins were purchased or where bitcoins were used to purchase a service.