The past decade has witnessed a significant increase in internet usage, alongside a substantial rise in the market capitalization of cryptocurrencies and continued reliance on traditional paper-based cash systems. While cryptocurrencies offer convenience and privacy through peer-to-peer distributed blockchain technology, they also present new risks. With minimal regulatory oversight, cryptocurrencies have become a tool for malicious actors, enabling exploitation within the financial sector. Despite providing pseudo-anonymity and transparency through public ledgers, these digital currencies have been frequently misused. In this paper, we explore the most widely used cryptocurrencies, evaluate their performance metrics, and discuss forensic methodologies that can assist to investigate and mitigate illegal transactions. These forensic techniques are essential in addressing the growing concerns surrounding the illicit use of cryptocurrencies.