FBI’s 130 Crypto-Related Cases

The Federal Bureau of Investigation (FBI) allegedly »has 130 cases tied to cryptocurrencies, » based on Supervisory Special Agent Kyle Armstrong. Speaking at the Crypto Evolved conference Wednesday in New York, he was quoted by Bloomberg:

The cases’threat tagged’ to virtual currencies encompass crimes like illegal drug sales human trafficking, kidnapping and ransomware attacks.

Armstrong is in charge of the FBI’s virtual currency initiative, which has been around for around three decades, the publication noted.

While acknowledging that his agency »takes a neutral view on digital tokens, he noted several pros and cons, » the information 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 is a little sliver at this point, » he elaborated and net bitcoin casino review.

Crypto Use on the Dark Web

According to Armstrong, »the opioid epidemic » is now a focus of the FBI since the agency sees »a surge in drug misuse, » enabled by the dark web. Moreover, he claimed that the agency has also »seen a significant rise in extortion schemes related 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, »A number of our criminal investigators face the challenge of identifying online pedophiles who hide their identities and offenses behind layers of anonymizing technology, or drug traffickers using virtual currencies to obscure their trades. »

On Monday, the House of Representatives passed a bill to help stop the use of cryptocurrencies such as bitcoinbitcoin penguin casino reddit best bitcoin live casino This bill shortly 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 illicit use of cryptocurrencies.

Furthermore, the U.S. Department of Justice announced Tuesday that it has seized »almost 2,000 bitcoins and other cryptocurrencies, with an approximate value of more than $20 million, » at a nationally undercover operation targeting darknet sellers.

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Source: bitcoincasinoreview.info