Along with increasing use of cryptocurrency in India, there is also an increase in cases of its misuse. The growing trend of the use of crypto wallets for crimes like money laundering, drug smuggling and terrorist financeing has created new challenges in front of security agencies. To face this challenge, the Indian police have found a new tool – a indigenous startup developed software by ‘Hornet’, which is capable of tracking suspexius crypto wallets. Which will help the Indian police to catch the criminals, as well as monitoring suspense activities on the dark web.
What is hornet
Hornet, based in Hyderabad and Kolkata, is an Indian startup that has expertise in the forensic data analysts of Crimes related to Crypto. Established in 2023, the company has created this software with the Indian Enforcement Directorate and Telangana Police. Its purpose is to provide a strong digital defense of Crypto Crime.
Software procedure
Hornet’s software algorithm suscinus Crypto wallet Works at several levels to track. It first scans wallet data from popular cryptocurrency exchanges and is capable of identifying private wallet addresses. It then uses the bank’s KYC Knowledge to link these addresses to real orgasisation.
According to Hornet’s Co-Founder, Shriyan Gupta, “Tracing of private wallets is a default, but when they interfaces with a crypto exchange or peer-to-peer platforms, we can track them.”
Types and tracking process of crimes
Hornet’s software is useful in investing crimes of varius types:
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Investment Fraud: Money Flaw is traced forward so that the source of fraud can be detected.
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Terrorist Financing and Drug Trafficking: Money Flaw is reverse traced to reach the criminals.
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This software customizes tracking method based on crime type, making the investigation process fast and effect.
Collaboration and Effectiveness with Police
After implementing the software of Hornet, Telangana Police and Enforcement Directorate have solved several successful investigation cases. This has proved that this technology can work effectively by Crypto Crime.
New Milestone in India’s Technology Sector
This software developed by Hornet not only brings revolutionary change in the investigation of Crypto Crime, but also shows that Indian startups can record their presence in the global technology industry. It is an important milestone in India’s technology sector, which shows the competition of Indian Entrepreneur as compared to Chinese tech giant.
Conclusion
Hornet’s crypto wallet tracking software is proving to be an effective tool of digital crimes in India. This not only provides a strong defense of Crypto Crime, but also promotes technological potential of Indian startups. In this Era of Digital India, such innovative solutions, security and technological development open new dimensions.
