IIT-K tool to detect fraud in cryptocurrency transaction

Published: Updated On – 09:37 AM, Thu – 9 June 22

Kanpur: The Indian Institute of Technology, Kanpur (IIT-K), will provide an indigenously designed tool to help the Uttar Pradesh police in detection and cracking of cases of fraud through cryptocurrency transactions.

Professor Sandeep Shukla from IIT-Kanpur, said that the tool developed by IIT, known as HOP, can analyse cryptocurrency transactions.

“The tool is cheaper than any foreign equipment. By September, our tool will be ready to serve the UP police and help in investigations in cases of cryptocurrency fraud,” said Shukla.

ADG, Cybercrime, Subhash Chandra, emphasised on the need for cybercrime awareness programmes and capacity-building for police departments to prepare to counter the menace.

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

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

He said that basic skills and methodologies are required for investigation of VOIP-based calls that have become prevalent in extortion cases.

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CBI warns against illegal online businesses including cryptocurrency trading – myRepublica

KATHMANDU, Feb 14: The Central Investigation Bureau (CBI) of Nepal Police has warned not to get involved in illegal online business such as cryptocurrency, hyper fund and digital networking among others.

Issuing a notice on Sunday, the CBI stated that it is minutely monitoring such businesses in Nepal even after the government’s decision to ban them. The CBI further said that investigation is being conducted against those involved in such illegal businesses and actions are being taken against those involved in the businesses.

While urging one and all not to be involved in such businesses, the CBI shared that online transactions under cryptocurrency and digital networking business have been declared illegal recently.

CBI has also requested the public to inform the CBI if they found anyone involved and running such illegal businesses.

CBI’s Superintendent of Police (SP) Shyam Kumar Mahato said those proven guilty of running such illegal businesses or involved in them would be put behind the bars. They are also subjected to fine penalty.



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