The Federal Bureau of Investigation (FBI) of the United States published a request for proposals for software to monitor illicit cryptocurrency activity.
The agency explained that “there is a need for modern tracking and analytics tools capable of keeping pace with rapidly changing technologies that are frequently used by illicit actors to evade law enforcement.”
According to the requirements, the software must monitor cryptocurrencies representing 95% of market capitalization (per CoinMarketCap). Separately in the document, the goals specify “Bitcoin, Bitcoin Cash, Litecoin, Ethereum and all ERC-20 tokens.”
From the tools, law enforcement requires the ability to obtain “specific cryptographic information about transactions,” as well as geographic tagging of TOR servers and attribution by related IP addresses.
The agency is prepared to sign the software contract with the vendor as of March 25, 2022, with an option to extend annually for the next four years.
Earlier in February, the FBI formed a unit focused on on-chain activity analysis in decentralized networks.