The Indian government recently inaugurated a national cyber forensic lab and a Cyber Protection Detection and Awareness Center (CyPAD) under the Delhi police. While the lab’s key focus will be cyber crimes, it also has a dedicated unit for cryptocurrency cases. There has been a notable increase in the number of cryptocurrency related crimes in India and a dedicated center will greatly expedite the resolution of such cases.
Delhi Police Commissioner Amulya Patnaik told the Hindu:
“We are now equipped with technology to recover data from damaged hard disks, cryptocurrency analysis, malware forensic and data can be retrieved from 33,000 kinds of mobile models available in the market.”
A lot of these cryptocurrency scams stem from the fact that the government has not created a progressive regulatory framework for cryptocurrencies. The draconian RBI banking restriction means that legitimate cryptocurrency businesses have not been able to run their operations smoothly, allowing a fertile breeding ground for scammers. While it is good that our cyber crime experts are catching up on cryptocurrency analysis, we do hope that our government also steps up their game!