Bitcoin storage and management is not for everyone. British police also discovered. But they have come up with a solution. The cryptocurrencies they seize during the investigation will now be safely stored by Digital Asset Manager Cominu.
Bitcoin storage service
An agreement with Derbyshire Constable The National Council of Police Chiefs (NPCC) says a police force is needed for these matters. That is why it has been decided to hold Cominu responsible for a ‘very strong’ way of storing confiscated cryptocurrencies. It brought both parties together News release Known.
The parties together called it the Cyber Crime Plan. The purpose is to ensure that authorities in the UK have the tools needed to respond to cybercrime. One of these is the storage and management of cryptocurrency.
Angela McLaren explains more about this move. He is the Assistant Commissioner in charge of NPCC cases related to cyber crime. At the local, regional and national levels, more expertise was needed to protect bitcoin. That’s how Kominu came into the picture.
The partnership will provide the UK Police with the infrastructure needed to effectively handle criminal cases involving cryptocurrencies.“
Guardian for the United Kingdom
Comein will now provide policing services to all police forces in the UK, Wales, Northern Ireland and Scotland. The British Traffic Police and all other law enforcement agencies in the UK can now report to the agency for assistance.
This arrangement is expected to increase efficiency and reduce costs. Comeinu is a joint venture between Nomura Holdings, Coinshare and Ledger. They launched in June 2020.
An earlier investigation had revealed that police forces were unaware of how Bitcoin was operating. For example, there are stories of them migrating for seizures Public key instead Private key .
There also seem to be cases where police have lost millions from barricades. As long as government agencies do not claim ownership of bitcoin in a fork chain (or do not even know they can claim it), criminals can still get their hands on it after they are released. They should have a backup of the same private key somewhere.
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