Interpol Creates Digital Currency to Study Crypto Crime

AccessTimeIconApr 20, 2015 at 12:01 p.m. UTC
Updated Sep 11, 2021 at 11:38 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.