Uppsala Security’s CIRC supports digital asset tracking services for the “Coin Sherlock“ initiative of Seoul ShinMun Daily Newspaper
Singapore, 21 July 2020 — Uppsala Security, a global blockchain cybersecurity company, officially announced today that it will launch an online public interest platform called “Coin Sherlock”, in partnership with South Korea’s leading newspaper, Seoul ShinMun Daily.
“Coin Sherlock” is an online platform which will be operated by Uppsala Security’s Global Crypto Incident Response Center (CIRC) in cooperation with the Seoul Daily Newspaper, where reports can be submitted directly by the readers in case of damage related to cryptocurrencies, including pyramid schemes (multi-level investment fraud), scams or dark web related crimes.
The Seoul ShinMun’s Investigative Team will select cases reported through the “Coin Sherlock” platform based on the seriousness and importance of the incidents and will determine the subject of the investigation. Next, Uppsala Security’s CIRC will analyze and track the cases while providing follow-up reports to the victims. The tracking reports provided by Uppsala Security are a legally valid evidence and can be submitted to law enforcement agencies for further investigation and legal action. Typically, in order to report digital asset damage to law enforcement agencies and request an investigation, the victims themselves have to verify and track the funds to prove that the damage happened in the first place. This is something that the majority of the users still struggle with and can lead them to give up on starting an investigation. Therefore, the joint work of Uppsala Security and Seoul ShinMun Daily falls right into place by supporting the victims who were unable to track their funds and report it to the law enforcement agencies.
In addition, with the consent of the victims, the Seoul ShinMun will continue to report on the details of the case, the tracking of the criminal funds and the investigation process.
Uppsala Security established the CIRC as its subsidiary in June 2020 and signed a “Service Business Partnership” contract with Samsung Electronics as its first customer, providing investigation and tracking services for the users of the Samsung Blockchain Wallet. This makes the Seoul ShinMun Daily the second customer of the CIRC, as a media company.
“Since the launch of the CIRC, many Virtual Asset Service Providers (VASP) and institutions have been inquiring about customer support services. We are pleased to collaborate with such a prestigious media company like the Seoul ShinMun Daily for the “Coin Sherlock“ initiative. Our team is ready to support the platform through the CIRC’s experience and know-how in order to solve incidents involving cryptocurrencies in the current situation where legal/institutional entities are still challenged when facing such tasks. This is our expertise field, and our capability can exponentially help the global community as long as users are aware of our solutions and resort to them.“ said Min-woo Ku, Uppsala Security Korea Branch Manager.
“The collaboration with Uppsala Security’s Crypto Incident Response Center is not just about solving cryptocurrency crimes, but also about bringing the “solution journalism” to life by seeking solutions together with the readers through this novel public platform. We hope that through the ‘Coin Sherlock’ initiative we will be able to not only support victims of malicious attacks involving cryptocurrencies, but also to highlight the seriousness of crypto crimes and call for active policy responses from the government and law enforcement agencies.“ said Donghwan Ahn, The Head of Investigative Reporting of the Seoul ShinMun.
About Seoul ShinMun Newspaper
The Seoul ShinMun (translating to The Seoul Newspaper) is the oldest daily newspaper in South Korea with more than a century of publications.
About Uppsala Security Pte Ltd
Uppsala Security built and operates the world’s first crowdsourced Threat Intelligence Platform known as the Sentinel Protocol, powered by blockchain technologies and A.I. Supporting the framework is a team of experienced security analysts and researchers committed to helping organizations realize safely interconnected experiences by deploying a suite of advanced Risk Management Solutions satisfying the crypto security needs of organizations and industry compliance standards worldwide.
Uppsala Security is headquartered in Singapore and has branch offices in Seoul, South Korea and Tokyo, Japan. Follow Uppsala Security on Telegram, LinkedIn, Twitter, Facebook and Medium.
