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

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

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 an increase in illegal activity facilitated by cryptocurrency payments. “There are thousands of cases in the agency, so it’s a little sliver at this point,” 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,” enabled from the dark web. Moreover, he claimed that the bureau has also”seen a significant rise in extortion schemes related 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 bureau cited,”Some 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 transactions.”

On Monday, the House of Representatives unanimously passed a bill to help prevent the illegal use of cryptocurrencies including bitcoin, dashboard, zcash, and monerocan you legally open a bitcoin casino bitcoin casino software for sale 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 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,” in a nationwide undercover operation targeting darknet vendors.

What do you think of the FBI tying 130 cases to cryptocurrencies? Let us know in the comments section below.

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Source: bitcoincasinoreview.net