New Samsung App Will Report ‘Lost Or Stolen’ Crypto

Samsung Electronics has recently partnered with Uppsala Security, a global blockchain security company, to launch a new app which will have one great feature for crypto users. The new Samsung app will report any cryptocurrency which was “lost or stolen” and provide virtual asset damage tracking services to users of the “Samsung Blockchain Wallet” which is a digital asset wallet.

On the 1st of July, Samsung Electronics and Uppsala Security announced that they are entering a joint partnership which will guide them in a service business cooperation where they would share, collaborate and plan the launch of the new Samsung app.

While previously it was very difficult for Samsung Blockchain Wallet users to receive any evidence of lost or stolen cryptocurrency, they will now receive reports whether their ownings were subject to hacks, frauds or stealing. The users will be able to request damage relief from law enforcement authorities, the reports from Hankyung show.

Samsung is now again in the blockchain news for this revolutionary feature. Unlike the financial industry which does not offer any protection or gives users the option to track their crypto, Samsung will do that. As a result, victims of such crimes will be able to see and potentially pinpoint their losses.

This service and the new Samsung app will be provided by Uppsala Security in active collaboration with the ‘Carrier Damage Center (CIRC)’ which was established on the 24th of last month in order to analyze crimes in virtual assets.

For those of you who don’t follow the cryptocurrency news on our site, CIRC was previously quoted as a firm that provides financial tracking reports by investigating and analyzing the cases when users report the damage to virtual assets. The agency is taking the right measures to provide any legal services, if necessary.

The big picture now is that as a tech giant, Samsung is again venturing in a new cryptocurrency-related project. The brand new Samsung app will definitely help many people who want a transparent way to see their digital assets, even if they were lost or stolen. In the first scenario (or the second one), there may be a way for them to restore them in the future.