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FBI’s 130 Crypto-Related Cases

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

The instances’threat tagged’ to monies encompass crimes such as illegal drug sales human trafficking, kidnapping and ransomware attacks.

Armstrong is in charge the publication noted.

While acknowledging that his agency”takes a neutral view on digital tokens, he noticed several pros and cons,” the news 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 small sliver at this time,” 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 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 technologies to fight cybercrime. The agency mentioned,”A number of our criminal researchers face the challenge of identifying online pedophiles who hide their crimes and identities behind layers of anonymizing technologies, or drug traffickers using virtual currencies to obscure their trades.”

On Monday, the House of Representatives passed a bill to help stop the illegal use of cryptocurrencies such as bitcoinnet bitcoin casino review casino reviews: top #10 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 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 greater than $20 million,” at a nationally undercover operation targeting darknet sellers.

What do you think of the FBI linking 130 instances to cryptocurrencies? Tell us in the comments section below.

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