The U.S. Army and the Department of Defense are seeking an existing application to support their cryptocurrency monitoring efforts.
The U.S. Department of Defense has posted a request for information (RFI) on the government website for web-based cryptocurrency tracking tools. The RFI, titled “Web-based Application for Cryptocurrency Investigation,” was made public on July 10.
The RFI states that the two government organizations are seeking “a web-based application capable of assisting law enforcement in identifying and disrupting actors who use cryptocurrencies for illicit activities such as fraud, extortion, and money laundering.”
The posting also includes a statement of work (SOW) describing the ideal contractor as one who can provide a web-based solution delivered as a service (SaaS) and that can track cryptocurrency transactions in real time.
The SOW stresses that the web application must already be a finished product; the RFI is not requesting development of an entirely new application.
The U.S. Army Criminal Investigation Command (USACIDC) will manage the service. However, users of the application may be located anywhere in the United States and overseas.
Intended users include the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the Securities and Exchange Commission (SEC), Immigration and Customs Enforcement (ICE), the Internal Revenue Service (IRS), and the Transportation Security Administration (TSA).
This Department of Defense request follows a contract awarded by the Department of Homeland Security and the U.S. Secret Service to Coinbase for blockchain analysis software.
It also comes nearly a year after the Army posted a previous notice indicating that users of this application would be located across the U.S. and abroad wherever a Computer Crime Investigative Unit (CCIU) presence exists.
The application will be used to enhance the government’s ability to trace and monitor illicit activity, including fraud, extortion, and money laundering.
Cryptocurrencies have surged in popularity recently, a trend accelerated by the coronavirus pandemic as organizations sought ways to continue essential activities—work, financial management, and entertainment—while safeguarding public health. That shift has coincided with a rise in cybercrime and hacker activity worldwide.