The global law enforcement agencies are learning to fight back crypto crimes via on-chain tools, about 50% of respondent in a survey trust that with the right tools, crypto illicit transactions will curb.

Obviously, alongside with the rise of cryptocurrencies, crypto crime multiplies as a result of an advent of each new technology. For example, as the internet explores, crimes associated with the internet experienced a parallel increase.

How Does On-Chain Analysis Tools Contribute to Minimize Crime?

After the recent survey by blockchain Analytics company, TRM lab published a survey that instigate a motion for tackling Crypto Crime and how crypto crime are becoming a core focus of law enforcement activities .

On-chain analytical tools are fundamental for fighting sophisticated transactions, in fact, about 87% of the respondent who have used on-chain analysis tool believe that they are very important for the successful investigation of crypto crimes.

You must realize that Blockchain are ananymous, but the technology is like public ledger, with the right knowledge, the investigators can easily track the flow of funds.

Nearly about 50% of respondent who said they had the right tools viewes crypto investigation as actually easier than conventional ones.

Enforcement Officers Receive crypto Training

Hackers stole more than. $3 billion worth of crypto asset in 2022, however, in 2023, despite the market recovery, the market lost to hackers was reduced by 50% tool, $1.7billion. This is because across the world, law enforcement officers are receiving training.

Moreover, there are crypto sleuth such zachXBT who constantly contribute to exposing crypto crime.

Also, Beln crypto reported that some Ukraine government officials enrolles training in an advance tachniques and tools to investigate crypto crimes, this happened in November 2023.

A wopping number (90%) of re revealed that organism provided them with some degree of crypto Training .

Participants of the survey where required to have a minimum of one year of experience working within with a specific law enforcement agency. Additionally, another criterion was that they should have actively contribute to the investigation of at least crypto related crime.