India Taps Crypto Custodian Liminal to Manage Seized Assets

Liminal Custody Solutions is the official manager of seized crypto assets in India.

Huge hand piling up coins, directed by a small man in a suit.
Created by Gabor Kovacs from DailyCoin
  • Liminal Custody Solutions has partnered with India’s premier police agency.
  • The company will manage seized digital assets under certain conditions.
  • The police agency lauded Liminal for its ongoing assistance to India’s law enforcement agencies.

India’s premier investigative police agency has entrusted crypto custodian Liminal with the responsibility of managing seized digital assets.

Founded in 2021, Liminal is a Singapore-based digital asset wallet platform with a custody infrastructure protecting over $550 million in digital assets. The platform has processed transactions worth over $6 billion, according to its official website.

CBI Appoints Liminal to Manage Seized Crypto Assets

In a press release dated November 9, the Central Bureau of Investigation (CBI) appointed Liminal Custody Solutions to manage seized digital assets in a “non-custodial manner securely.” This includes the assets CBI has impounded in its investigations.

Terming the move as a “momentous stride” in its mission to secure India’s digital asset ecosystem and make it accessible, CBI noted that the appointment establishes Liminal as a “vital ally” for law enforcement agencies in the country.

Manan Vora, Senior Vice President of Strategy and Business Operations at Liminal, lauded the partnership, saying it’s a testament to the company’s commitment to fostering a safe and regulated crypto landscape in India.

“As experts in the field, we feel it’s our responsibility to assist law enforcement agencies with rigorous security protocols. We look forward to making a substantial contribution to India’s digital asset security and accessibility,” Vora stated.

Liminal’s collaboration with the CBI predates today’s appointment. In fact, the CBI had a message of appreciation to the Liminal team for “playing a pivotal role” in its recent high-profile operation.

Liminal’s Role in Combating Crypto Crime

According to the CBI, Liminal has already supported its law enforcement actions by assembling a specialized team that created multi-sig and multi-party computation wallets to store seized assets safely.

“The creation of specialized multi-sig and MPC wallets were executed with precision to ensure assets’ security with strict adherence to standard operating procedures (SOP),” CBI said.

The investigative agency noted that law enforcement agencies that combat crypto-related crimes need compliant wallet solutions to safely store seized assets, adding that Liminal can “fill this crucial role.”

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.