The report your file receives.

The client's deposit of GBP 62,480 into the conveyancing client account on 2 October 2026 has been traced to the sale of 0.92 BTC on the Coinbase exchange. The Bitcoin was originally purchased on Coinbase in three tranches between March 2023 and January 2024, funded by GBP bank transfers from the client's Monzo current account. The total original cost was GBP 19,340. The BTC was held in a Coinbase custody wallet and a personal hardware wallet. All wallet addresses screened clear of sanctions exposure and known illicit activity.

The following steps reconstruct the movement of funds from fiat origin to the bank receipt.

1. 1

   Fiat purchase on Coinbase

   Three GBP bank transfers from Monzo account (ending 4821) to Coinbase Ltd UK entity, purchasing BTC:

   Date	GBP sent	BTC received	Price
   12 Mar 2023	6,200.00	0.2800	22,142/BTC
   5 Aug 2023	7,140.00	0.3100	23,032/BTC
   18 Jan 2024	6,000.00	0.3300	18,181/BTC

   Evidence: Coinbase transaction history CSV (rows 14, 27, 35); Monzo statement pages 3, 5, 7

2. 2

   Withdrawal to personal wallet

   On 20 Jan 2024, 0.5000 BTC withdrawn from Coinbase to a Ledger hardware wallet.

   Coinbase withdrawal TX: bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh

   On-chain TX: a1b2c3d4e5f6...7890abcd (block 828,441)

3. 3

   Return to Coinbase for sale

   On 28 Sep 2026, 0.5000 BTC sent from the Ledger wallet back to the client's Coinbase deposit address. The remaining 0.4200 BTC had stayed in Coinbase custody since purchase.

   On-chain TX: f9e8d7c6b5a4...3210fedc (block 912,106)

4. 4

   Sale on Coinbase

   On 29 Sep 2026, 0.9200 BTC sold on Coinbase for GBP 62,560.00 (price GBP 67,999/BTC). After the GBP 80.00 fee, GBP 62,480.00 credited to the client's GBP wallet on Coinbase.

   Coinbase trade confirmation ref: TRADE-9X7K2M

5. 5

   Withdrawal to bank

   On 30 Sep 2026, GBP 62,480.00 withdrawn from Coinbase to Monzo account (ending 4821). Coinbase Payments Ltd sent via Faster Payments.

   Coinbase withdrawal ref: WD-62480-UK; Monzo statement page 12

6. 6

   Transfer to conveyancing client account

   On 2 Oct 2026, GBP 62,480.00 transferred from Monzo account (ending 4821) to Harrison Cole LLP client account at Barclays (sort code 20-XX-XX, ref "CHEN-PURCHASE").

   Monzo statement page 12; Harrison Cole LLP client account receipt confirmed

Every wallet address in the trace was checked against the OFAC SDN crypto address list and screened with AMLBot. For each address, AMLBot reports whether it is on its blacklist, whether its high-risk exposure is above or below 50%, and a breakdown of where its funds came from.

Where the client’s wallet funds came from

AMLBot source breakdown for the client’s Ledger wallet (bc1qxy2k...x0wlh). The two Coinbase addresses are identified as Coinbase and are 100% exchange-sourced.

No address in this trace appears on the OFAC SDN list (checked 14 Oct 2026) or the AMLBot blacklist. All three addresses have high-risk exposure below 50%, and the client’s wallet shows no exposure to sanctioned entities, darknet markets, mixers or stolen funds.

AMLBot reports overall risk as above or below 50% rather than as an exact score. We list any exposure to a danger category, whatever its size, so a small exposure is never hidden behind a “below 50%” result.

The amount received in the conveyancing client account matches the Coinbase withdrawal exactly. No unexplained third-party deposits were identified in the Monzo account between the Coinbase credit (30 Sep) and the client-account transfer (2 Oct).

Mapped to the CLC Anti-Money Laundering guidance and the LSAG Source of Funds guidance for enhanced due diligence on crypto-derived funds.

• Where did the funds originate?

  Three GBP bank transfers from the client's Monzo current account to Coinbase between March 2023 and January 2024, totalling GBP 19,340. Fiat origin confirmed by matching bank statement entries.

• Can the client demonstrate ownership of the crypto assets?

  Yes. Coinbase account is verified (KYC level 3) in the client's name. The hardware wallet was funded from the client's Coinbase account and returned funds to the same account. No third-party wallets involved.

• Is there a clear audit trail from purchase to bank receipt?

  Yes. The trace in section 02 shows an unbroken chain: bank → exchange (purchase) → wallet → exchange (sale) → bank → client account. Each step is evidenced by exchange records, on-chain transactions or bank statements.

• Have wallet addresses been screened for sanctions and illicit exposure?

  Yes. All three addresses were checked against the OFAC SDN crypto list and screened with AMLBot. None is listed on either, all have high-risk exposure below 50%, and the client’s wallet has no exposure to danger categories. See section 03.

• Does the amount match the bank receipt?

  Yes. GBP 62,480.00 reconciled exactly from Coinbase sale to client account. See section 04.

• Is the growth in value consistent with market conditions?

  The client purchased 0.92 BTC for GBP 19,340 (avg GBP 21,022/BTC) and sold at GBP 67,999/BTC, a gain of approximately 223%. BTC rose from about GBP 20,000-23,000 in 2023 to about GBP 68,000 in late September 2026, consistent with publicly recorded market prices.

• Were there any third-party transfers, mixing services, or privacy coins?

  No. All transfers were between the client's own Coinbase account and their own hardware wallet. No mixing, tumbling, CoinJoin, bridge transactions, DeFi protocols or privacy coins identified.

• Are there gaps or unexplained periods in the chain of custody?

  No. The BTC was held in either Coinbase custody or the client's Ledger wallet from purchase to sale. No period of unaccounted holding.