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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, he was quoted by Bloomberg:

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

Armstrong is in charge of the FBI currency initiative, which has been around for about three decades, the publication noted.

While acknowledging that his agency”takes a neutral view on digital tokens, he noticed several advantages and disadvantages,” the information 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 agency, so it is a little sliver at this time,” 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 substantial rise in extortion schemes related 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 combat cybercrime. The agency mentioned,”A number of our criminal investigators face the challenge of identifying online pedophiles who conceal 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 passed a bill to help prevent the use of cryptocurrencies such as bitcoin, dash, zcash, and monerobitcoin casino table games bitcoin casino bonus code june 2017 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 use of cryptocurrencies.

What’s more, the U.S. Department of Justice announced Tuesday that it has captured”almost 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 linking 130 instances to cryptocurrencies? Tell us in the comments section below.

Pictures courtesy of Shutterstock.

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Source: bitcoincasinoreview.info

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