Law enforcement agencies worldwide are preparing to tackle crypto crimes by receiving adequate training in using on-chain tools. Nearly 50% of respondents in a survey believe that with the right tools, crypto illicit transactions are easier to deal with.

It is indisputable that, alongside the rise of cryptocurrencies, crypto crimes are here to stay. This pattern continues with the advent of each new technology. For instance, as the Internet gained popularity, crimes facilitated by the Internet experienced a parallel increase.

How On-Chain Analysis Tools Are Contributing to Reducing Crypto Crimes

Blockchain analytics company TRM Labs published a survey titled ‘Tackling Crypto Crime‘ that discusses how crypto crimes are becoming a core focus of law enforcement activities. 300 US and International Law Enforcement Professionals participated in the survey.

On-chain analytical tools are essential for dealing with sophisticated crypto transactions. As a matter of fact, around 87% of the respondents who have used on-chain analysis tools believe that they are very or extremely important for the successful investigation of crypto crimes.

Read more: 8 Best On-Chain Analysis Tools in 2023

Blockchain transactions are anonymous, but the technology is like a public ledger<

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Author: Harsh Notariya

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