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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 in the Crypto Evolved conference Wednesday in New York, Bloomberg quoted him:

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

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

While acknowledging that his agency”takes a neutral view on digital tokens, he noted several advantages and disadvantages,” the news outlet conveyed and lent him explaining that the FBI has noticed an increase in illegal activity facilitated by cryptocurrency payments. “There are thousands of cases in the bureau, so it’s a small 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 since the agency sees”a surge in drug misuse,” enabled by the dark web. Moreover, he claimed that the bureau has also”seen a significant rise in extortion schemes linked to virtual monies 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 combat cybercrime. The agency cited,”Some of our criminal researchers face the challenge of identifying online pedophiles who hide their crimes and identities 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 prevent the illegal use of cryptocurrencies including bitcoinzigzag777 bitcoin casino This bill soon 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 more than $20 million,” in a nationwide undercover operation targeting darknet sellers.

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

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Source: bitcoincasinoreview.info