I never doubted that it's possible but it's way harder than identifying bank accounts. There is a massive business behind crypto tracking, that's why companies like MasterCard have acquired CipherTrace. Some years ago there was a really good article / case study from them. I think it was related to a ransomware gang and they were able to identify the threat actor's wallets through crypto tumblers and chain hopping. It's just a matter of how much money and time are you willing to invest into finding out and not a matter of possibility.

You can trace the BTC or Ethereal transaction of coins, but you cannot trace the criminals after it's converted to Monero or some other "privacy" chain on an exchange run on the dark web. After that you're just tracing other owners, possibly who have no idea where that it was stolen. It literally takes a few hours to wash it all out.