India's New Cyber Protection Awareness and Detection Center (Cypad) to Fight Crypto Fraud via Forensics

In a bid to adequately tackle cybercrime, carry out cryptoanalysis and more, Rajnath Singh, India's Union Home Minister, has unveiled the nation's first cybercrime detection and awareness centre dubbed the Cyber Protection Awareness and Detection Center (Cypad) on Monday, February 18, 2019, according to local news source, The Hindu.

Indian Government Wage War against Cyber Bad Actors

Per sources close to the matter, the government of India is now set to curb the activities of cyber criminals and crypto thieves entirely, as it has now created the state's first robust cyber forensic lab and the Delhi cybercrime arm called the Cyber Protection Awareness and Detection Center (Cypad).

Specifically, the new cyber forensic centre reportedly comprises of several units, including

“memory forensics lab, network forensics lab, malware forensics lab, cryptocurrency forensics lab, damaged hard disk and advanced mobile forensics lab.”

With the successful launch of the platform, authorities have made it clear that retrieving valuable information from damaged hard disks, mobile phones and carrying out other crime-fighting operations in the blockchain technology and crypto space will be easier.

Commenting on the development, Delhi Police Commissioner, Amulya Patnaik stated that:

“We now have the technology to retrieve sensitive data from damaged hard disks, cryptocurrency analysis, malware forensic and data can be retrieved from 33,000 kinds of mobile devices. Experts will train our staff.”

End of the Road for Cryptocurrency Fraudsters

According to The Hindu, both Cypad and the national forensic lab are situated in the same building in Dwarka's Sector 16 C and they are part of the Union Home Ministry's Cyber Crime Coordination Center.

Despite the massive drop in the price of bitcoin and other cryptoassets, crypto-related fraud has continued to increase, as cyberpunks remain interested enriching themselves with ill-gotten funds.

Now, the authorities have stated explicitly that Cypad's primary objectives would be to carry out investigations concerning cybercrimes, as well as cyber forensics and cyber safety.

The platform will also see to the issues of national security.

“The centre in Dwarka will offer security services to citizens, the police force and other agencies, to help in the nation to win the battle against cybercrime,” declared the Hindu.

As reported by Bitcoin Exchange Guide on February 18, 2019, India's law enforcement agents apprehended a crypto scam group that generated a whopping 1 billion rupees ($17 million) from their illegal initial coin offering project called Cashcoin.

Interestingly, Minister Singh has also hinted that cybercrime represents a huge problem for India's digital ecosystem and he firmly believes that Cypad is the right solution.

Bitcoin-BTC-Ethereum-ETH-XRP-Ripple-and-EOS-Price-Analysis-Watch-Feb-19th

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Ogwu Emma
Ogwu Emma
Ogwu Osaemezu Emmanuel is a blockchain analyst with several years of experience in the cryptospace. He writes regularly for several leading cryptocurrency platforms

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,274FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

DeFi Growth & Stablecoin Surge Most Bullish Crypto Development: DCG State of Crypto 2020 Survey

39% of the respondents that involve 150 portfolio companies see DeFi as the most bullish crypto development of 2020, as per the DCG Founders...

Non-Custodial Bitcoin Exchange, Hodl Hodl, Launches Lending Service Without KYC

Hodl Hodl, a non-custodial Bitcoin exchange, is launching a KYC-free lending product for its customers. The exchange claims that its lending product would be...

Total Value Locked in Harvest Finance Surpasses $1 Billion, Up 366,200% Since September

Decentralized platform Harvest Finance that provides users a way to farm assets for the highest yields now has more than a billion dollars in...

Strong Institutional Demand for Bitcoin, CME Becomes Second Largest BTC Futures Market

Bitcoin's price made a big shift this week as the bulls gained control of the market and pushed it past $13,000. A similar shift has...

PoolTogether's ‘No Loss' Gambling Platform Utilizes Chainlink’s VRF on Ethereum to Select Winners

Chainlink announces its verifiable random function on the Ethereum mainnet, bringing a host of benefits to the decentralized platform. PoolTogether, a gamified savings platform...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today