The cryptocurrency seized by the British police during the investigation is now being securely stored by the digital asset manager Komainu.
Under a new master agreement with the Derbyshire Constabulary on behalf of the National Police Chiefs Council’s (NPCC) cybercrime program, Komainu will be responsible for providing a “more robust” means of storing cryptocurrencies that are seized in investigations across the UK, according to a press release were publication Thursday.
The Cybercrime Program aims to ensure that the UK authorities have the tools they need to respond to cybercrime.
Angela McLaren, Deputy Commissioner in charge of the NPCC’s Economic and Cybercrime Portfolio, said that the Specialist Cyber Crime Units at local, regional and national levels in the UK are in “badly needed” access to a secure cryptocurrency storage solution .
“This collaboration of services will provide the UK police with the infrastructure they need to efficiently handle criminal cases involving cryptocurrencies,” said McLaren.
Komainu, which won the contract following a successful tender process, will now provide its warehouse solution to “all police forces in England and Wales, the police service in Northern Ireland, the police service in Scotland, the UK traffic police and all law enforcement agencies in this country,” said the UK deputy commissioner.
The deal is expected to increase efficiency and reduce costs associated with various police forces looking for their own custody solutions.
The procurement contract was backed by Europe’s largest digital asset manager, CoinShares and Gentium, a UK law enforcement consultancy specializing in financial crime and cybercrime.
Komainu, a custodian providing compliance and insurance services, is a Jersey, United Kingdom regulated joint venture between Nomura Holdings, CoinShares and Ledger that began operations in June 2020.