Forbes India 15th Anniversary Special

CBI collaborates with Liminal to safeguard confiscated digital assets

Liminal joined CBI in an operation to provide them with secure and compliant wallet solutions to safely store seized digital assets

Shashank Bhardwaj
Published: Nov 16, 2023 06:59:37 PM IST

CBI collaborates with Liminal to safeguard confiscated digital assetsImage: Shutterstock

The Central Bureau of Investigation (CBI), India’s premier investigative agency, has entrusted Liminal Custody Solutions with the secured non-custodial storage of digital assets seized during investigations.

Following the announcement of this collaboration, Liminal participated in a high-profile operation led by the CBI. Liminal’s role was to furnish CBI with secure and compliant wallet solutions to store seized digital assets safely.

As a part of this operation, Liminal assembled a specialised team to collaborate closely with CBI officers on the ground. They designed specialised multi-signature (multi-sig) and secured multiparty computation (MPC) wallets tailored to CBI’s requirements. These solutions were designed with strict adherence to standard operating procedures (SOP).

Commenting on their role in the partnership, Senior Vice President of Strategy and Business Operations at Liminal, Manan Vora, said, “we consider our partnership with the CBI as a testament to our unwavering dedication to building a safe and regulated digital asset ecosystem in India. 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.”

Liminal is a licensed and regulated digital asset custody and wallet infrastructure provider. Since its launch in April 2021, it has been catering to digital asset companies of all sizes, such as Crypto Exchanges, OTC desks, Web3 Projects, DAOs, Treasuries, and other crypto native businesses.

The partnership of CBI with Liminal has come amidst an increasing number of crypto scams, including the recently reported crypto scam worth Rs 2,500 crore ($300 million) in Himachal Pradesh. As per official reports, the number of people arrested in the crypto scam is 18 at the time of writing.

With such scams coming to light, the collaboration between CBI and Liminal emerges as a proactive step towards enhancing digital asset security. It highlights the pivotal role of strategic collaborations in enhancing digital asset security.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash