The rise of crypto has brought with it a new wave of cybercrimes, challenging the conventional methods employed by law enforcement agencies. With blockchain transactions inherently designed to provide anonymity, authorities have often found themselves at an impasse when tracing illicit crypto activities.

However, a recent development in Canada has shown a breakthrough in this standoff, illustrating a potential model for global law enforcement. Particularly, Canadian police have incorporated advanced technology into their investigative procedures, enabling them to delve deeper into the blockchain realm.

Through specialized software, they can now trace blockchain transactions to their source, identify perpetrators, and pinpoint the exact destination of funds.

Chainalysis Reactor: A New Tool In The Fight Against Cybercrime

Canadian police forces have started to employ Chainalysis Reactor, a software that offers capabilities well beyond traditional investigative tools. According to a report from the Lethbridge Herald newspaper, the software facilitates the tracking of digital currencies from their initiation point to their eventual deposit on a digital exchange.

Related Reading: Canada Exposes Crypto Sites Creating Fake Dispute Resolution Organizations

When the trail leads to a particular exchange, police can then obtain the account holder’s details and the subsequent transaction data. This, in essence, means that criminals can no longer find solace in the previously impenetrable blockchain.

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Author: Samuel Edyme

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