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- The U.K. police have seized cryptographic money concerning ongoing investigations about digital asset crimes.
- Digital asset custodian Komainu will safely deposit confiscated crypto holdings.
- This partnership will ensure the secure handling of crypto assets during the inspection of criminal cases.
Komainu, which is oriented towards digital asset management and custody, will help the U.K. police in their battle against crimes related to digital assets.
Komainu Will Provide Security To Seized Crypto
The U.K. police have seized numerous cryptocurrency as a consequence of ongoing investigations regarding digital asset-related crimes. Komainu, a virtual currency management company, will be storing these confiscated digital assets with absolute security. This collaboration has taken place under a novel framework service agreement between Komainu and the Derbyshire Constabulary. The latter is on behalf of the National Police Chiefs Council (NPCC) Cybercrime Programme.
Komainu has been responsible for ensuring a vigorous and secure medium to store the confiscated digital assets. At the same time, the U.K. law enforcement is involved in conducting inquiries about various crimes related to cryptocurrency. This integration was announced through a press release on January 21.
This Collaboration Will Increase Efficiency
Angela McLaren, Assistant Commissioner, overlooking the NPCC cybercrime portfolio in the U.K., shared that seizure of cryptocurrencies is happening more frequently throughout the country. The ongoing high rate of cybercrime requires a protected storage facility for confiscated virtual assets. Hence, Komainu has received a commercial tender to provide a safe repository for seized assets.
The facilities provided by Komainu will be accessible to all law enforcement organizations in the country, including the British Transport Police. The services will also be extended to the police forces in England, Wales, Scotland, and Northern Ireland. This partnership will strengthen the cybercrime specialists by providing the right technology and required protection to virtual assets during investigations. It will simultaneously diminish the duplication and lower expenses related to various forces running separate tender processes to identify their solutions. This is a significant advancement in expediting the crime-solving process.
Komainu’s CEO, Jean-Marie Mognetti, expressed that the company was excited about their collaboration with the NPCC. This support will result in finding criminals involved in illicit activities such as hacking and duping crypto users into losing their digital assets. The crypto custodian will be employing the support extended by CoinShares, which has provided the former with prominent realization services. These services will help source liquidity for the confiscated crypto as and when required. Additionally, Komainu will be utilizing operating guidance provided by Gentium Capital. It will indefinitely increase the efficiency in services provided by the digital asset management company.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
