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, he was quoted by Bloomberg:

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

Armstrong is in charge the publication noted.

While acknowledging that his agency”takes a neutral view on digital tokens, he noticed several advantages and disadvantages,” the news outlet conveyed and quoted him explaining that the FBI has noticed a rise in illegal activity facilitated by cryptocurrency payments. “There are hundreds and hundreds of cases in the bureau, so it is a little sliver at this point,” he elaborated and net bitcoin casino review.

Crypto Use on the Dark Internet

According to Armstrong,”the opioid epidemic” has become 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 substantial 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 cited,”A number of our criminal investigators 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 transactions.”

On Monday, the House of Representatives unanimously passed a bill to help stop the use of cryptocurrencies such as bitcoin, dashboard, zcash, and moneroBetChain rating 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.

What’s more, the U.S. Department of Justice announced Tuesday that it has captured”nearly 2,000 bitcoins and other cryptocurrencies, with an approximate value of greater than $20 million,” in a nationwide undercover operation targeting darknet sellers.

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

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Source: bitcoincasinoreview.net