IIT Kanpur develops software to help examine cryptocurrency fraud

The Indian Institute of Engineering, Kanpur (IIT-K), will deliver an indigenously created tool to enable the Uttar Pradesh law enforcement in detection and cracking of conditions of fraud by means of cryptocurrency transactions.

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

“The tool is less expensive than any foreign equipment. By September, our software will be all set to serve the UP law enforcement and assistance in investigations in conditions of cryptocurrency fraud,” stated Shukla.

ADG, Cybercrime, Subhash Chandra, emphasised on the will need for cybercrime consciousness programmes and capacity-building for police departments to get ready to counter the menace.

“We have taken action in opposition to 37,000 accounts, banks and cards, and also recovered Rs 9.5 crore in a yr,” reported Chandra.

SP, Cybercrime, Triveni Singh said that the particular programme is an initiative of MHA and Uttar Pradesh Police and the to start with this kind of celebration to unfold cyber safety recognition and capability-setting up for police departments.

He claimed that basic capabilities and methodologies are required for investigation of VOIP-centered calls that have come to be commonplace in extortion instances.

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