Derbyshire County Police (UK) has signed a contract with the custodian service Komainu. The company will provide services for the authorities to store confiscated digital assets, according to a press release.
Komainu will work with all UK law enforcement agencies. Assistant Police Commissioner Angela McLaren noted that special forces routinely seize cryptocurrency as part of investigations and need to securely store digital currencies.
Cybercrime program manager Phil Ariss told The Block that previous methods did not guarantee the safety of confiscated assets.
“We need a special solution for storing them because we are talking about large amounts,” said Ariss.
In 2018, Japanese investment bank Nomura, hardware wallet developer Ledger, and investment firm CoinShares launched Komainu, an institutional investor-focused custodian service.
Recall, in November 2020, the analytical company Chainalysis announced the launch of a program that will help government agencies store and sell confiscated cryptocurrency.
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