IIT-Kanpur develops tool for detecting crypto transaction frauds
By MYBRANDBOOK
The Indian Institute of Technology, Kanpur (IIT-Kanpur), will provide an indigenously designed tool to help the Uttar Pradesh police in detecting and investigating cases of fraud through cryptocurrency transactions.
The HOP tool developed by IIT can analyse cryptocurrency transactions. The tool is accredited to be cheaper than any such tool designed outside India. It will be ready to serve the UP police by September.
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.
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