Saturday, December 9, 2023

Spanish police force invests in crypto-tech to catch drug traffickers.

With drug traffickers using crypto assets, the Spanish police force is investing in crypto-tech to nab them. Officers patrolling the Strait of Gibraltar, as per El Espanol, have spent around USD 115,000 on two blockchain analysis solutions. The police believe that these tools will help them trace crypto assets used by drug dealers.

Crypto-tech, blockchain solutions, or tools, will empower the police to help detectives who are analyzing electronic evidence related to criminal acts. The Ministry of Interior said its necessary to continuously update the police’s technological systems. The police force is likely to spend more on crypto monitoring tools in the near future.

A major police operation busted two crime rings last month. Tons of marijuana and cocaine had been smuggled across the Strait. The smugglers had tried to cover their tracks by hiding the shipments in crates of watermelons and tomatoes. Police found that the criminals had paid off corrupt police and customs officers in crypto. Money was laundered through crypto transactions. As such, the police force is on the lookout for new tools to trace transactions linked to such drug deals.

Earlier in February, a drug cartel used crypto to launder money that it had raised through narcotics deals. The police found it difficult to trace the crypto-related to drug deals. One unit admitted that it was practically impossible to produce high-quality reports without the appropriate solutions or tools. Furthermore, the police force wants to train its officers in crypto-related matters.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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