Interpol Creates Digital Currency to Study Crypto Crime

(@yessi_kbello) | Published on April 20, 2015 at 13:01 BST
News in Brief

Interpol's cybercrime research facility, the Global Complex for Innovation (IGCI), has created its own digital currency in a bid to combat cryptocurrency-fuelled crime.

The IGCI team, which includes members from Singapore's police force, will use its in-house virtual currency to study scenarios of cryptocurrency use and misuse in a specially designed simulation training game.

Madan Mohan Oberoi, IGCI director of cyber innovation and outreach, confirmed to a local news outlet that his team has made progress in several projects already.

Last month two Interpol researchers, Christian Karam and Vitaly Kamluk, presented evidence that the blockchain could be exploited by hackers to create malware campaigns.

IGCI executive director Noboru Nakatani noted in the agency's statement at the time:

"Having identified this threat, it is now important for Interpol to spread awareness amongst the public and law enforcement, as well as encourage support from communities working in this field to find solutions for the potential blockchain 'abuse'."

According to the same local news outlet, Interpol is expected to issue a document detailing its future activities in cybercrime research this week.

CrimeResearchSingapore

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