Fun

Canadian Police Launch Cryptocurrency Investigations Center

News Feed - 2023-04-18 09:04:47

Canadian Police Launch Cryptocurrency Investigations Center


The police service of the Canadian city of Calgary is launching a Cryptocurrency Investigations Centre in partnership with blockchain analytics firm Chainalysis to help combat crypto crime. The center “will enable law enforcement to tackle crime that takes place using blockchain technology,” Chainalysis described. Canada’s Cryptocurrency Investigations Centre


The police service of Calgary, the largest city in the western Canadian province of Alberta and the largest metro area within the three Prairie Provinces region, announced last week that it is creating a “Cryptocurrency Investigations Centre.” The announcement explains: The Calgary Police Service is entering into a unique partnership with Chainalysis, a global blockchain data platform, to help combat crypto-crime.


“The creation and implementation of the Western Canada Cryptocurrency Investigations Centre will strengthen our ability to ensure the public safety of citizens, allow for proactive policing, enhance technical investigative skills and provide expert training resources for law enforcement,” the police noted.


According to the announcement, Calgarians reported losses totaling $13.9 million due to cryptocurrency-related crimes to the police last year, and an additional $3.2 million has been reported so far this year.


“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,” the police stressed.


Furthermore, the announcement details: Together, with Chainalysis, the Calgary Police Service Cyber Forensics Unit has created the CPS Blockchain Investigation Team (BIT), dedicated to support cryptocurrency and blockchain-related investigations.


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


The blockchain firm’s research indicates that there has been a significant surge in the usage and adoption of cryptocurrencies and digital assets in Canada since 2019. In 2022, Canada ranked 22nd on the firm’s Global Crypto Adoption Index, which is an improvement from 26th in 2021 and 24th in 2020. Tags in this story Calgary Police Service, Calgary Police Service Chainalysis, Calgary Police Service crypto, Calgary Police Service crypto crime, Calgary Police Service crypto investigations, Calgary Police Service cryptocurrency, canada crypto, Canada crypto crimes, cryptocurrency investigations center


What do you think about this crypto center set up by the Canadian police service and Chainalysis? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. SEC Commissioner Hester Peirce States Proposed Amendments to Definition of "Exchange" Render Innovation "Kaput" REGULATION | 11 hours ago Bittrex Receives Wells Notice From SEC for Alleged Investor-Protection Law Violations REGULATION | 19 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSEC Commissioner Hester Peirce States Proposed Amendments to Definition of ‘Exchange’ Render Innovation ‘Kaput’ Next articleIMF Says Sub-Saharan Africa Already Feeling Effects of the ‘Big Funding Squeeze’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework


Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

News Feed

Helen Partz13 hours agoAtomic Wallet faces lawsuit over $100M crypto hack losses: ReportPlaintiffs in a new class-action suit against the hacked crypto wallet Atomic Wallet say the firm didn’t share any information abo
Bitcoin Bears Are Taking Fresh Market Positions, But Are They Safe?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Skybridge Capital’s Scaramucci on Crypto Boom: ‘The Institutions Are Not There’
Skybridge Capital"s Scaramucci on Crypto Boom: "The Institutions Are Not There" Anthony Scaramucci, CEO of Skybridge Capital, a multi-asset class investment firm, says he thinks th
BTC Held On Exchanges Hits Lowest Point In 5 Five Years, Here’s What It Means For Bitcoin Price
Este artículo también está disponible en español. The Bitcoin price has already been up by 10% in the past seven days, breaking above the $67,000 mark again in the last f
Polygon-Based Decentralized Exchange Quickswap Loses $220K in Flash Loan Exploit
Polygon-Based Decentralized Exchange Quickswap Loses $220K in Flash Loan Exploit On Monday, the Polygon-based decentralized exchange (dex) Quickswap lost $220K in a flash loan expl
Robert Kiyosaki Expects Bitcoin’s Price to Keep Rising — Says ‘I’m Betting on It’
Robert Kiyosaki Expects Bitcoin"s Price to Keep Rising — Says "I"m Betting on It" The author of Rich Dad Poor Dad, Robert Kiyosaki, expects the price of bitcoin to keep rising. &
MEXC Global Officially Lists Leader in Web 3․0 Gaming – UniX Gaming!
MEXC Global Officially Lists Leader in Web 3․0 Gaming - UniX Gaming! press release PRESS RELEASE.Zug, Switzerland – 2nd May 2022. UniX Gaming is delighted to announce that
CoinEx Lists ONES Token First and Launches Initial Trade Offering with OneSwap’s Official Launch
CoinEx Lists ONES Token First and Launches Initial Trade Offering with OneSwap’s Official LaunchOneSwap is a groundbreaking new DeFi project offering a decentralized exchange prot
CBDCs: User privacy problem or currency of the future?
Stephen Katte9 hours agoCBDCs: User privacy problem or currency of the future?CBDCs have some benefits but also many drawbacks, which has sparked debate about whether adopting them is a good idea.504 Total views5 Total s
Ethereum Pain Is Far From Over: Why A Massive Drop To $1,400 Could Rock The Underperformer
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Coinbase Secures Regulatory Approval to Operate as a Virtual Asset Service Provider in Ireland
Coinbase Secures Regulatory Approval to Operate as a Virtual Asset Service Provider in Ireland Coinbase has announced it has secured regulatory approval as a virtual asset service
William Suberg22 hours agoBitcoin bulls keep pressure on $28K while calls for BTC price dip growBitcoin is being treated with suspicion on short timeframes, with repeated pushes into resistance met with rejection.3637 To