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.