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Danish Police to spot Bitcoin transactions involved in illegal activities

Thursday 23 February 2017 09:29 CET | News

The Danish National Police Cyber Crime Center (NC3) has developed software for tracing Bitcoin transactions that has led to successful drug convictions, according to local reports.

Furthermore, NC3s new breakthrough has attracted interested from the FBI and Interpol. The new toolkit has reportedly enabled law enforcement officials in Denmark to press forward in cases involving the digital currency. The cases involved Danish individuals buying large amounts drugs via darknet markets and shipping narcotics through the mail.

Authorities intercepted the packages prior to the defendants receiving them. The mailing addresses were used to trace the Bitcoin transactions.

Bitcoin is pseudonymous, meaning that identities on the network itself are tied to addresses rather than names or other kinds of personal information. Concerns about transaction tracking have spurred interest in privacy centric currencies like monero (XMR) among the worlds dark markets, CoinDesk said.


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Keywords: National Police Cyber Crime Center (NC3), Bitcoin, cryptocurrency, Denmark, Europe, transactions , security, fraud prevention
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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