Indian Start-Up develops software to help Police track suspected crypto wallets

The Indian Police are now equipped with a software, courtesy an indigenous start-up firm, that can help them track suspected crypto wallets involved in crimes of money laundering, drug smuggling and terror financing. The said software also does surveillance of dark web to keep a track of crypto wallets involved in suspicious activities.

The Indian start-up ‘Hornet’, an organization specializing in forensic data analysis of crypto related crimes, has developed a software to keep track of specific crypto wallets flagged by Indian law enforcement agencies. The start-up, which was founded in 2023 and is based out of Hyderabad and Kolkata cities, has teamed up with Telangana Police and Enforcement Directorate.

According to the organization, the said software’s algorithm begins tracking flagged crypto wallets from the entry point at popular cryptocurrency exchanges, as it allows them to filter private wallet addresses with entity linked wallet addresses.

The recent innovation by this indigenous start-up company in India, comes amidst an intense debate over Indian entrepreneurs lagging behind China in sectors of tech, AI and smart solutions.