April 18, 2023

Canadian Police Establishes Center for Combating Crypto Crimes

Calgary Police

Calgary Police

Blockchain analytics company Chainalysis teamed up with the Canadian police of Calgary to establish a cryptocurrency investigation center to combat crypto crime, according to Bitcoin News

In a statement, Chainalysis said the center will be a law enforcement unit to fight crimes that use blockchain technology.

Meanwhile, The police service of Calgary, the largest city in the western Canadian province of Alberta, noted in an announcement: “The Calgary Police Service is entering into a unique partnership with Chainalysis, a global blockchain data platform, to help combat crypto-crime.” 

According to the announcement, the establishment of the center targets achieving proactive policing, offering expert training resources for law enforcement, maintaining the public safety of citizens, and promoting technical investigative skills. 

Under the partnership, Chainalsysis will provide blockchain technology and digital currency training for the law enforcement bodies in Calgary, in addition to case support for local law enforcement bodies around the clock. 

In cooperation with the on-chain firm, the Calgary Police Service Cyber Forensics Unit founded the CPS Blockchain Investigation Team (BIT) to support investigations into crimes related to blockchain and cryptocurrencies like crypto scams. 

“Cybercrimes, particularly cryptocurrency scams, can be difficult for law enforcement to fully investigate due to a variety of complex factors, including various international locations and jurisdictions, sophisticated criminal techniques and quickly advancing technology,” according to the Calgary police. 

Chainalysis described the new center as an innovative regional center that will enable law enforcement to tackle crime that takes place using blockchain technology.

According to the 2022 Chainalysis Global Crypto Adoption Index, the usage of digital currency in Canada increased, making the country 22nd place from 26th place in 2021. 

In 2022, the top 10 digital asset scammers in the country stole more than $31 million from investors using different strategies.

Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.