India CIAT Monitoring Tool To Crack Crypto Fraud
India’s Ministry of Home Affairs is developing an on-chain tool called the Cryptocurrency Intelligence and Analysis Tool (CIAT) to monitor transactions and alerts over suspicious behavior in the rapidly growing digital currency ecosystem. The Indian Cyber Crime Coordination Centre is leading the development, with the government investing millions of dollars in the project.
The CIAT project will record cryptcourrency transactions, scrapping addresses, timestamps, and exchanges used for trade. It will also alert law enforcement agencies to unusual or irregular digital currency activity. The project’s key feature is its comprehensive database of all digital currency exchanges, including centralized and decentralized exchanges, which will be useful during investigations.
(With inputs from Shikha Singh)
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