What is the first step to seize cryptocurrency effectively?

Seizing cryptocurrency effectively begins with identifying and securing all devices that may be related to the cryptocurrency activities. This step is crucial because cryptocurrency is often stored on a variety of devices, including computers, mobile phones, and hardware wallets, which may contain important data related to ownership and transactions. By securing these devices first, law enforcement can prevent the destruction of evidence and ensure that they have access to the necessary information to track and recover the cryptocurrency involved.

In contrast, while transferring coins to a secure wallet is a security measure, it is not the initial step in seizing assets, as it assumes that the jurisdiction and ownership have already been determined. Notifying the authorities is a procedural step that may follow the identification of devices but does not directly contribute to the seizure process itself. Freezing the violator's bank accounts might be relevant in broader financial investigations, but it does not directly relate to the immediate task of seizing cryptocurrency.