Europol Buckles Up Changing Cryptocurrency Crimes into a Game

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The Europol or the European Law Enforcement is preparing its officers by providing training in the emerging field of Cryptocurrency related crimes by developing a game that is specifically made for the task. At the sixth Cryptocurrency Conference that has been hosted in the headquarters recently the Europol states that the Cryptocurrency tracing serious game will launch in October at the Europol-Interpol Cybercrime Conference and probably is the first law enforcement training opportunity on Cryptocurrency and investigation using the gamification. The trainees who play the game will attempt to track and trace the illegal Cryptocurrency trades.

The game that has been developed between Europol and the Centre of Excellence in Terrorism, Resilience, Intelligence and Organised Crime Research (CENTRIC), has been designed for investigators in order to gain virtual experience in tackling the real-life challenges that are associated with the criminal Cryptocurrency investigations.

The main aim of the game is to train the next generation of the law enforcement officers in cyber crime. Although, it may prove invaluable when applied to real scenarios and the challenges of tackling the Cryptocurrency laundering, washing, theft, phishing including all the varieties of scams that keep lurking within the industry.

Tracing the Cryptocurrency that has been obtained through illicit means is not just a cup of tea. When funds are transferred to different wallets, the clean coins are mixed with the tainted ones or exchanged for different forms of Cryptocurrency and moved again while the transactions are recorded through the blockchain. This makes tracking the flow of the criminal activity can be a difficult proposition.

Nevertheless, the law enforcement agencies are taking Cryptocurrency related crimes seriously as revealed in the latest case of Bestmixer that was seized by the Europol in May, accused for allegedly laundering over $200 million in dirty Cryptocurrency. The Europol has seized six servers that facilitated the Cryptocurrency washing service. It was only a year that the Bestmixer has been in operation and has offered the customers the chance to mix the Bitcoin (BTC), Litecoin (LTC) and Bitcoin cash (BCH).

The latest seizure of the Wall Street Market has also provided the law enforcement with a lesson in the Cryptocurrency related crimes. The dark web marketplace was also taken down in May soon after the operators of the website performed the exit scam and vanished with over $14.2 million in Cryptocurrency from the vendors and users.

 

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