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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 monies encompass crimes such as kidnapping, illicit drug sales, human trafficking 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” is now a focus of the FBI as the agency sees”a surge in drug abuse,” enabled 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 technology to combat cybercrime. The bureau mentioned,”Some of our criminal investigators 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 transactions.”

On Monday, the House of Representatives passed a bill to help stop the use of cryptocurrencies such as bitcoinat what rate bitcoin cashout ignition casino bitcoin casino binary options 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 captured”nearly 2,000 bitcoins and other cryptocurrencies, with an approximate value of greater than $20 million,” at a nationwide undercover operation targeting darknet sellers.

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

Images courtesy of Shutterstock.

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Source: bitcoincasinoreview.info

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