Hong Kong Police Launch CryptoTrace: A Platform for Web3 Crime Tracking

Hong Kong Police have introduced CryptoTrace, a pioneering initiative aimed at combating criminal activity within the rapidly evolving world of Web3. This innovative platform, developed in collaboration with the University of Hong Kong, empowers authorities to effectively track illicit activities on major blockchain networks like Bitcoin and Ethereum. The tool’s platform-agnostic design promises enhanced capabilities for law enforcement agencies to investigate cybercrimes linked to virtual assets. This effort represents a significant step towards strengthening cybersecurity within this space.