IIT-K tool to detect fraud in cryptocurrency transactions

Kanpur, June 9 (SocialNews.XYZ) The Indian Institute of Technology, Kanpur (IIT-K) will provide a locally designed tool to help Uttar Pradesh Police detect and resolve cases of fraud through cryptocurrency transactions.

Professor Sandeep Shukla of IIT-Kanpur, said the tool developed by IIT, known as HOP, can analyze cryptocurrency transactions.

“The tool is less expensive than any foreign equipment. By September, our tool will be ready to serve UP police and assist in cryptocurrency fraud investigations,” said Shukla said.

ADG, Cybercrime, Subhash Chandra, highlighted the need for cybercrime awareness programs and capacity building for law enforcement agencies to prepare to counter the threat.

“We took action against 37,000 accounts, banks and cards and also recovered Rs 9.5 crore in one year,” Chandra said.

SP, Cybercrime, Triveni Singh said the specific program is an initiative of MHA and Uttar Pradesh Police and the first such event to spread cybersecurity awareness and capacity building for police departments.

He said basic skills and methodologies are needed to investigate VOIP calls which have become common in extortion cases.

Source: IANS

IIT-K tool to detect fraud in cryptocurrency transactions

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