Chainalysis Partners with Calgary Police to Launch a Crypto Task Force
- Chainalysis has partnered with the Calgary Police Service to tackle the criminal activities in the region that are based on blockchain technology.
- The two entities launched a new task force called the Western Canada Cryptocurrency Investigations Centre on April 12.
- The task force consists of investigators from Chainalysis as well as the Calgary Police Service.
- The partnership will also feature access to training from the Chainalysis and CPS teams of experts.
Chainalysis, a leading blockchain data platform that has taken part in several investigations in collaboration with regulators around the world, has announced the launch of a new task force consisting of investigators from the Calgary police department along with a few professionals from the company itself. It is important to mention here that Calgary is the largest city in the western Canadian province of Alberta.
According to the official announcement from Chainalysis, the new task force, which debuted on April 12, will constitute a new body termed the Western Canada Cryptocurrency Investigations Centre. The goal is to help the Calgary police tackle the criminal events that occur in the region with the help of blockchain technology.
Chainalysis co-founder and Chief Strategy Officer Jonathan Levin stated that “this demonstration of public-private partnership to solve novel issues in financial services is a model that the rest of the world can learn from,” while adding:
“Not only is this a great moment for Western Canada, but it is a first step in our work to enable law enforcement partners across the world to protect their constituents, and in turn, help build trust in blockchain technology.”
In the announcement, Chainalysis noted that there has been a rapid surge in the usage of blockchain and digital assets in Canada since 2019, and that in 2022, Canada would rank 22nd in the blockchain data platform’s Global Crypto Adoption Index, up from 26th in 2021 and 24th in 2020. With the increase in crypto activity, criminal activities via blockchain also went up.
Chainalysis confirmed that overall, for every 1000 Canadians, there was at least $1,144 CAD ($851.70) in total exposure to illicit crypto activity in 2022. Further, over $41.7 million CAD ($31.05 million) was garnered through illicit crypto activity in 2022 across the country.
As a result, the partnership combines the Calgary Police Service’s deep understanding of Western Canada, investigative expertise, and customer service, as well as a proactive focus on policing, with Chainalysis’ best-in-class technology, investigative solutions, and training expertise.
“We are thrilled to be part of an innovative partnership with Chainalysis where cybersecurity expertise is shared amongst the Calgary Police Service and private enterprise. This unique partnership will help strengthen cybersecurity and safety among residents of Calgary, Alberta, and Canada,” noted Chief Constable Mark Neufeld of the Calgary Police Service.
It is also crucial to note here that the partnership will feature access to training from the Chainalysis and CPS teams of experts. As a result of this training, the officials from the Calgary Police Service will be equipped with the knowledge to solve complex crimes committed with the help of blockchain technology.
In the short term, CPS’ partnership with Chainalysis will “improve investigative outcomes for the citizens of Western Canada,” while in the long term, the goal is to “decrease the incentive for criminals to carry out these crimes.” The two entities aim to continue expanding the Canada Cryptocurrency Investigations Centre and serve more law enforcement agencies in the country.
Chainalysis’ partnerships with law enforcement agencies are nothing new. As reported earlier by BitcoinWisdom, the blockchain data platform helped law enforcement seize more than $30 million stolen by North Korean hackers in the $600 million Ronin Bridge attack.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
