The British police will now store the confiscated bitcoins with the specialists

The British police will now store the confiscated bitcoins with the specialists

Bitcoin storage and management isn’t available for everyone. British police found that out, too. But they found a solution for that. The cryptocurrency they seize during investigations will now be stored securely by Digital Asset Manager Komainu.

Bitcoin storage service

Deal with Derbyshire Police From the National Council of Chiefs of Police (NPCC) that there is a need for imprisonment for these matters. That is why it was decided to make Komainu responsible for a “more robust” method of storing seized cryptocurrencies. The parties announced this in a press release.

Get started on Bitvavo and pay no trading fees for your first purchase of up to € 1,000

The two parties had jointly crafted a so-called cybercrime program. The purpose was to ensure that the UK authorities had the tools to respond to cybercrime. One of them was storing and managing cryptocurrencies.

Angela McLaren explains more about the move. She is the Assistant Commissioner in charge of the National Anti-Corruption Council cases involving cybercrime, among others. On a local, regional, and national level, more expertise was needed to preserve Bitcoin. This is how Komainu appeared in the photo.

This partnership will provide UK Police the necessary infrastructure to efficiently handle criminal cases involving cryptocurrencies.

UK nursery

Komainu will now provide reservation services for all police forces in England, Wales, Northern Ireland and Scotland. The UK Transport Police and all other law enforcement agencies within the UK can now report the company for assistance.

This scheme is expected to increase efficiency and reduce costs. Komainu is a joint venture of Nomura Holdings, CoinShares, and Ledger. They started in June 2020.

READ  Wirecard: Economical watchdog lifts limitations on payments

A previous investigation showed that the police force had no idea how Bitcoin worked. For example, there are stories where they settled with spells The public key Instead of th Secret key .

There also seem to be cases where the police have lost millions of prongs. As long as government agencies don’t claim bitcoin on the “fork chain” (or don’t know at all that they can claim it as well), criminals can still get it after their release. They should of course have a backup of the same private key somewhere.

Do you want to participate in the news? Then come and visit our Telegram chat!

Leave a Reply

Your email address will not be published. Required fields are marked *