Cryptocurrencies and blockchain are incomprehensible to 74% of law enforcement officers, study shows problems for law enforcement

According to a survey conducted by analytical company Chainalysis, cryptocurrencies and blockchain are not understood by 74% of law enforcement officials.

According to the majority of 300 respondents, law enforcement agencies do not have the necessary equipment, software, and most importantly, knowledge to investigate crypto crimes. The interviewed law enforcement officials believe that the best option to improve the number of cases solved related to virtual fraud is to hire investigators and analysts specializing in cryptocurrency investigations.

For example, due to the low level of system security and lack of awareness of blockchain technologies among government officials, hackers manage to access websites and social networks of government agencies in addition to stealing funds from cryptocurrency investors. Recently, fraudsters hacked into the UK army 's Twitter and YouTube accounts to spread scam to steal cryptocurrencies. The hackers renamed the British Army’s official YouTube channel to Ark Invest, deleting all previous videos and publishing several diplomatic speeches by Elon Musk and Jack Dorsey. Under the video, users were urged to invest in fraudulent crypto projects.