Interpol announces a specialized team to fight crypto crimes.

The world’s largest police body with 195 members announced a specialized team in Singapore to help fight crypto crimes.

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Interpol Secretary-General Jürgen Stock said cryptocurrencies pose challenges to law enforcement agencies in the absence of a legal framework.

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Cryptocurrencies are emerging as a major threat across the globe, secretary general of Interpol added.

Asia delegate Praveen Sinha said law enforcement agencies in India need new standard operating procedures (SOPs) after the launch of 5G technology.

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October came to be the worst-ever month for crypto-related crimes with over $718 million in overall losses.

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Earlier, Interpol issued a red notice against Terra founder Do Kwon.

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Interpol has issued warrants against many crypto fraudsters including Ruja Ignatova, who defrauded billions of dollars in the OneCoin scam.

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