Danish breakthrough in bitcoin tracking!

Posted on Posted in Nyheder

The Danish National Cyber Crime Centre (NC3) claim a breakthrough as they have developed a toolkit for tracing bitcoin transactions. This toolkit has enabled the Danish law enforcement to press forward in cases involving illegal use of digital currency. The toolkit for tracing bitcoin transactions has been developed by Danes and is also being implemented by FBI and Europol.

The toolkit has been used in cases where two Danish individuals bought large amounts of methamphetamine, ketamine and cocaine on marketplaces via the dark web with the purpose of resale.  

Kim Aarenstrup, Head of Danish National Cyber Crime Centre at Rigspolitiet commented that “We [NC3] are unique as no one else has been able to use a toolkit for tracking as evidence. Everyone is looking towards Denmark on this area and we are in close dialogue with number of other countries, so that we can develop further on the methods and teach others what we do”.

Kim Aarenstrup won’t go into detail on how this toolkit works, however simplified he says that the police link the underlying blockchain-technology with information on the bitcoin-buyers – which the bitcoin brokers are required to collect.

You can read the full article in Danish here.