Challenge
As Federal Law Enforcement tracks down and arrests suspected criminal enterprises, cryptocurrency is increasingly included in the assets seized. The USMS needs support to accurately and securely manage, audit, and dispose of a wide variety of new and complex digital assets.
Solution
Addx partnered with Coinbase, the largest publicly traded cryptocurrency asset management platform in the world, to create Cryptocurrency Asset Management System (CAMS), a multi-tiered case management solution for securely storing, managing, and liquidating any type of cryptocurrency currently held by USMS or possibly seized in the future.
Benefits
- Enhanced security using an innovative “cold storage” approach to keep stored cryptocurrencies out of online wallets and therefore out of the hands of hackers
- Improved transparency, CAMS manages all cryptocurrency assets associated with each USMS case, providing complete visibility into the state of each cryptocurrency asset under management
- Increased speed by using an extensive trading platform and algorithms ensure the best value in auctioning forfeited cryptocurrency assets by offering them to Coinbase’s vetted customer base of individuals and institutional investors
