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 cases’threat tagged’ to virtual monies encompass crimes such as kidnapping, illegal drug sales, human trafficking and ransomware strikes.
Armstrong is in charge the publication noted.
While acknowledging that his agency”takes a neutral view on digital tokens, he noted several pros and cons,” the news outlet conveyed and quoted him explaining that the FBI has noticed a rise in illegal activity facilitated by cryptocurrency payments. “There are thousands of cases in the agency, so it’s a little sliver at this time,” he elaborated and internet bitcoin casino review.
Crypto Use on the Dark Internet
According to Armstrong,”the opioid epidemic” is now a focus of the FBI as the agency sees”a surge in drug abuse,” enabled from the dark web. Moreover, he claimed that the bureau has also”seen a significant 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 mentioned,”Some of our criminal investigators face the challenge of identifying online pedophiles who conceal their crimes and identities behind layers of anonymizing technologies, or drug traffickers who use virtual currencies to obscure their trades.”
On Monday, the House of Representatives unanimously passed a bill to help prevent the illegal use of cryptocurrencies such as bitcoinfortune app This bill shortly follows a testimony by a high-ranking official of the U.S. Secret Service before the House of Representatives Financial Services Subcommittee on Terrorism and Illicit Finance. He asked Congress for help in preventing the use of cryptocurrencies.
What’s more, the U.S. Department of Justice announced Tuesday that it has seized”nearly 2,000 bitcoins and other cryptocurrencies, with an approximate value of greater than $20 million,” at a nationwide undercover operation targeting darknet sellers.
What do you think of the FBI linking 130 cases to cryptocurrencies? Let us know in the comments section below.
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