Indian Start-Up Develops Software to Catch Crypto Criminals – Here’s How

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Well, folks, it looks like the Indian Police have just been handed a shiny new toy. And no, it’s not a new drone or a high-speed car. It’s a software, crafted by a humble Indian start-up, designed to help track crypto wallets suspected of being used in everything from money laundering to drug smuggling to terror financing. That’s right, no need for the old-fashioned police work, just good ol’ tech wizardry. 🧐💻

This little marvel comes courtesy of a fledgling firm called ‘Hornet,’ a band of tech whiz kids who specialize in forensic data analysis of crypto-related crimes. These brainiacs, based in Hyderabad and Kolkata, decided to take matters into their own hands and join forces with Telangana Police and the Enforcement Directorate. The result? A fancy piece of software that follows those sneaky crypto wallets wherever they go, like a bloodhound on a scent trail. 🕵️‍♂️💰

The software’s algorithm has the magical ability to track those flagged wallets all the way from their cozy little homes at popular cryptocurrency exchanges. Once there, it can sniff out the bad actors by linking private wallet addresses to the more public, entity-linked wallet addresses. It’s like finding the secret handshakes of the crypto underworld. 🔍💼

“While private wallets are harder to trace, we can track transactions when they interface with crypto exchanges or P2P platforms, linking them to real world entities through Bank KYC data. For investment fraud, we trace transactions forward to follow the money trail. In case of terror financing or drugs, we follow the money trail backwards,” said Shreyan Gupta, Hornet co-founder, to The Times of India. Sounds like a plot twist in a crime novel, doesn’t it? 📚🔎

This breakthrough, by the way, comes at a time when Indian entrepreneurs are being accused of falling behind their Chinese counterparts in the high-tech race. But with this nifty software, who knows? Maybe we’re about to witness a tech revolution straight from the subcontinent. Or at least a step forward in the war against crypto crime. 🌍💥

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2025-04-06 20:05