Japanese National Police Agency Uses New Software to Track Cryptocurrency Transactions

Due to the increase of illegal use of cryptocurrency, the National Police Agency of Japan (NPA) plans to introduce new software that allows tracking the history of transactions of digital assets. This was reported by the National Public Broadcasting Organization of Japan (NHK).

In 2019, the National Police Agency of Japan plans to provide special software for tracking transaction histories with digital assets within the country. This step is one of the components of efforts to combat the increased level of cryptocurrency abuse, as well as the theft of digital assets.

In order to cover the cost of new software, NPA aims to increase its budget for the next financial year by 35 million yen, which is equivalent to $315 thousand.

The software, which is planned to be implemented, was developed by one of the private companies, which name wasn't disclosed. According to data provided by the National Public Broadcasting Organization of Japan, the software can extract transaction data that is necessary for investigations.

Note that a few weeks ago, the Tokyo software manufacturer Trend Micro, which specializes in the detection of malware, announced that at a price of $25 thousand, attackers can buy a malicious program that allows stealing BTC from bitcoin-ATMs.

#Japan, #police, #cryptocurrency