US Army wants to equip its cybercrime team with crypto tracing tools
- The US Army recently announced that it is looking for a new contractor.
- The contractor is needed to develop cloud-based cryptocurrency-tracking tools.
- The document mentions what the tool needs to be capable of, and what are the Army’s objectives.
As both, online and offline criminals continue to utilize cryptocurrencies for funding their activities, or even for simply making a profit, the US Army decided to make its own move. The Army’s principal investigative division now seeks to equip its cybercrime team with tools for tracking digital currency transactions.
The new wave of interest in adding crypto tracing tools to its arsenal became apparent to all in a recently published Statement of Work. The announcement came on July 10th, noting that the Army is welcoming web-based solutions.
This comes as a surprise, as many were expecting requests for hardware, or at least software-based tools. Anyone interested in becoming the US Army’s contractor should apply by July 20th.
Details about the US Army’s requirements
The document also provided some details about what the Army is looking for. The application provided by the contractor needs to be able to assist in identifying and stopping bad actors who used digital currencies for illicit activities. The specific activities that the Army mentioned include money laundering, extortion, and fraud.
Furthermore, the tool’s users need to be able to conduct a thorough investigation. In other words, law enforcement must have the ability to determine the source of transactions. Not only that, but the tool also needs to provide multi-currency analysis. This would be required for Bitcoin, as well as multiple other high-ranking coins.
The army listed its objectives as well, such as ‘to acquire web-based application solutions to support investigations where there is a nexus to virtual currency.’ They want a cloud-based solution that would work quickly and be able to produce the information mentioned above.
Another requirement is for the tool to be able to spot transaction patterns, as well as interactions with other entities.
The Army seems to have had concerns regarding cryptocurrency for a while. The Pentagon itself previously created a wargame that would rely on cryptocurrency, rewarding those who successfully cause civil unrest within the game.
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