FBI’s 130 Crypto-Related Cases
The Federal Bureau of Investigation (FBI) reportedly”has 130 cases tied to cryptocurrencies,” based on Supervisory Special Agent Kyle Armstrong. Speaking at the Crypto Evolved conference Wednesday in New York, Bloomberg quoted him:
The instances’threat tagged’ to currencies encompass crimes like human trafficking, illicit drug sales, kidnapping and attacks that are ransomware.
Armstrong is in charge of the FBI money initiative, which has been around for around three decades, the publication noted.
While acknowledging that his agency”takes a neutral view on electronic tokens, he noted several pros and cons,” the information outlet conveyed and quoted him explaining that the FBI has noticed an increase in illegal activity facilitated by cryptocurrency payments. “There are thousands of cases in the agency, so it is a little sliver at this time,” he elaborated and internet bitcoin casino review.
Crypto Use on the Dark Web
According to Armstrong,”the opioid epidemic” is now a focus of the FBI as the agency sees”a surge in drug misuse,” allowed by the dark web. Moreover, he claimed that the agency has also”seen a substantial rise in extortion schemes linked to virtual currencies on the southwest border of the U.S.”
In its budget request for Fiscal Year 2018, the FBI asked for”80 positions and $21.6 million” to improve its investigative technology to fight cybercrime. The agency cited,”Some of our criminal investigators face the challenge of identifying online pedophiles who conceal their crimes and identities behind layers of anonymizing technology, or drug traffickers who use virtual currencies to obscure their trades.”
On Monday, the House of Representatives unanimously passed a bill to help stop the illegal use of cryptocurrencies such as bitcoincasino review – bitcoin 888 casino – cuemanchrome848 This bill soon follows a testimony by a high-ranking official of the U.S. Secret Service prior to the House of Representatives Financial Services Subcommittee on Terrorism and Illicit Finance. He asked Congress for help in preventing the illegal use of cryptocurrencies.
What’s more, the U.S. Department of Justice announced Tuesday that it has captured”almost 2,000 bitcoins and other cryptocurrencies, with an approximate value of more than $20 million,” in a nationally undercover operation targeting darknet sellers.
What do you think of the FBI tying 130 cases to cryptocurrencies? Let us know in the comments section below.
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