mayo 12, 2017 | Posted in:Blog

FBI’s 130 Crypto-Related Cases

The Federal Bureau of Investigation (FBI) reportedly»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 instances’threat tagged’ to virtual currencies encompass crimes like human trafficking, illicit drug sales, kidnapping and strikes.

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

While acknowledging that his agency»takes a neutral view on electronic tokens, he noticed several pros and cons,» the information outlet conveyed and quoted him explaining that the FBI has noticed an increase in illegal activity facilitated by cryptocurrency payments. «There are hundreds and hundreds of cases in the agency, so it is a small sliver at this time,» he elaborated and internet 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 abuse,» allowed by 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 fight cybercrime. The agency cited,»Some of our criminal researchers face the challenge of identifying online pedophiles who hide their identities and offenses behind layers of anonymizing technologies, or drug traffickers who use virtual currencies to obscure their trades.»

On Monday, the House of Representatives unanimously passed a bill to help stop the use of cryptocurrencies including bitcoinbitstarz scam 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 illicit use of cryptocurrencies.

Furthermore, 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 vendors.

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

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