Spanish police start developing blockchain analysis software

Spanish police have spent almost $ 115,000 to develop software that will help analyze blockchains and identify drug traffickers.

According to the local edition of El Español, Spanish law enforcement agencies believe that the new software will allow them to track cryptocurrency transactions made to pay for drugs. Currently, criminals are using cryptocurrencies to make transfers anonymous and impossible to trace.

According to representatives of the Ministry of the Interior, Spain needs to constantly update its police technology systems, so it is possible that even more money will be spent on crypto monitoring tools in the future.

According to recent news, some drug traffickers do receive payment for illegal substances in cryptocurrency. At the end of June, a UK court sentenced Simon Barclay, who, in order to remain unnoticed, sold drugs through the darknet (a network of resources that provide complete anonymity to users) and accepted payment in cryptocurrency. During the search, $ 6 million in cryptocurrencies (including bitcoins) and $ 1 million worth of drugs were seized from Barclay.