The partnership between Liminal Custody Solutions and Himachal Police underscores the growing importance of public-private collaboration in tackling cryptocurrency-related crime. Their joint effort showcases the pivotal role that trusted custodians can play in enhancing security and compliance, ultimately fortifying digital asset landscape.
Liminal partners with Himachal Police in a high-profile operation targeting a multi-crore cryptocurrency fraud
In a significant development highlighting the critical role of secure digital asset custody services, Liminal Custody Solutions partnered with the Himachal Police in a high-profile operation targeting a multi-crore cryptocurrency fraud. Liminal’s involvement underscores the increasing demand for compliant wallet solutions when law enforcement agencies are tasked with safeguarding seized digital assets.
The Himachal Police, faced with the urgency of seizing assets associated with a cryptocurrency fraud case, reached out to Liminal Custody Solutions in late September. Under the leadership of Mr. Abhishek Dular, DIG (Northern Range Dharamshala), a Special Investigation Team (SIT) was promptly formed on September 26 to spearhead the investigation. Liminal Custody Solutions, a trusted custodian of digital assets, quickly stepped up as an official partner to the Himachal Police.
This collaborative effort was multidimensional, requiring the dedicated involvement of the entire Liminal team. Their efforts included facilitating asset transfers, onboarding police officers, creating segregated wallets, and navigating the complexities of handling illicit cryptocurrency assets held by the perpetrators.
Mr. Abhishek Dular appreciated Liminal for its contribution, stating, “Working with Liminal Custody Solutions during this high-pressure operation was an exceptional experience. Their unwavering commitment to supporting law enforcement, stringent internal controls over seized digital assets, and their secure wallet solutions were instrumental in our success. Liminal’s dedication to going the extra mile was evident throughout the process, ensuring the safety and integrity of the seized assets.”
Manan Vora, Senior Vice President of Strategy and Business Operations at Liminal, reaffirmed the company’s dedication to fostering a secure and well-regulated digital asset landscape in India.
He emphasized, “Our collaboration with Himachal Police underscores our unwavering commitment to constructing a safe and regulated digital asset ecosystem within India. Recognizing the intricate nature of this emerging domain, we shoulder a significant responsibility to guide and assist law enforcement agencies at every stage while upholding the most stringent security protocols. This marks just the inception of our participation in law enforcement operations, and we eagerly anticipate expanding our portfolio to further fortify digital asset security and accessibility throughout India.”
Last month, Liminal was appointed by another Indian investigation agency to manage seized digital assets in a non-custodial manner securely.
Liminal Custody Solutions has long been committed to upholding the highest standards of digital asset security, and their collaboration with the Himachal Police demonstrates their dedication to this mission. As the digital asset landscape continues to evolve, the role of trusted custodians like Liminal becomes increasingly vital in ensuring the security and accessibility of digital assets, particularly in cases involving law enforcement.
This successful collaboration serves as a noteworthy example of how public and private sectors can work together to combat crypto-related crimes and underscores the growing importance of secure custody solutions in the evolving landscape of cryptocurrencies and blockchain technology.