Bitcoin, highlighted abroad this week via Twitter hackers looking to defraud others of their bitcoin, is difficult to track, but by no means impossible.
Bitcoin analytics corporations, cryptocurrencies, and blockchain can forensicly read about cryptographic transactions and can accurately determine who made the transaction, where and when.
Now, a pentagon’s leading research unit is to obtain data on hiring a cryptographic research service to “quickly stumble upon suspicious cryptocurrency transactions” around the world.
The U.S. Army Criminal Investigations Division (USACIDC) Command is trying to authorize a request to help them track and track illicit cryptocurrency transactions, according to hard work issued on July 10. Unlike a more formal request for proposal, publication is a component of a pre-study phase called a request for information.
“The contractor will have to provide global Internet access to a reliable cryptocurrency research service,” reads in the document, which gives corporations the July 20 deadline to submit the information.
“The Internet app will need to provide the ability to help the police identify and arrest actors who use cryptocurrencies for illicit activities such as fraud, extortion and cash laundering. The app allows users to conduct a thorough investigation into the source of the cryptocurrency transactions and provides research on multiple bitcoin currencies to other primary cryptocurrencies.”
In addition, the app “helps identify suspicious transaction patterns and interactions with other entities” and “a link investigation tool to facilitate knowledge research”.
The request for paints comes after the U.S. Army Contract Command. In New Jersey, it issued a prior request to request a similar Internet application to help track law enforcement and identify other people’s cryptocurrency for illegal purposes in July last year.
Companies such as Chainalysis, in New York, and London-Elliptic, which recently won a contract with the IRS, have forged a niche by offering blockchain knowledge and research to government agencies, bitcoin and cryptocurrency exchanges and monetary institutions.
Coinbase, the largest exchange of bitcoins and cryptocurrencies in the U.S., recently made headlines through the license of its blockchain tracking software to the U.S. government. The resolution is controversial, with critics saying that the service is causing a clash of interests for the popular exchange.
Coinbase said in an email that he was aware of USACIDC’s paint request but had not yet resolved his offer.
“We’ll take a look at the painting tactics with agencies and law enforcement to combat illegal activities,” said a Coinbase spokesman.
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