Blockchain analytics tool from Coinbase acquired by U.S Secret Service.

The U.S Secret Service have acquired a contract license of a Blockchain analytics tool from the well know worldwide Crypto exchange Coinbase, which will be a useful software to help the government agency to fight against cybercrime and financial fraud.

The software provided by Coinbase will be used by the law enforcement entity until May 9, 2024 and will earn to the vault of the crypto exchange a sum of $183,750. The contract can be found on public record site and also at government directory awards.

The U.S Secret Service isn't the first government entity to show interest in the Coinbase Blockchain analytic software, DEA (Drugs enforcement Administration) approached the Crypto firm offering $250,000 to grant use of the tool, also the IRS (Internal Revenue Service) are among the interested but never contracted awards to use the Coinbase tool. The Secret Service will be the first government agency to benefit from the Coinbase software, remembering that the U.S Secret Service have responsibility to protect the North American Top Leaders and conduct financial crime investigations.

What is the Coinbase Blockchain analytics software.

The Blockchain analytic software tool from Coinbase is a analytic product from Coinbase builty with technology granted by Neutrino used for internally compliance and globally investigations, its a important tool to meet regulatory obligations also to protect customers funds. It is fully sourced from online, publicly available data, and does not include any personally-identifiable information for anyone. The tool is also kept separate from internal data from Coinbase.

The software will surely help the U.S Secret Service in their task to combat cybercrime and financial fraud, will be able to track and follow some transactions to see if they are on compliance with the law and identity the wallet owners in real-time.

Let's see what it will bring new to track criminals on cyber Space.