Crypto Use on the Dark Internet mBit site
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 at the Crypto Evolved conference Wednesday in New York, he was quoted by Bloomberg:
The instances’threat tagged’ to virtual currencies encompass crimes such as illicit drug sales, human trafficking, kidnapping and attacks that are ransomware.
Armstrong is in charge the publication noted.
While acknowledging that his agency”takes a neutral view on electronic tokens, he noted several advantages and disadvantages,” the information outlet conveyed and lent 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’s a small 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 since the agency sees”a surge in drug abuse,” allowed by the dark web. Moreover, he claimed that the agency has also”seen a significant 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 technologies to combat cybercrime. The agency cited,”A number of our criminal researchers face the challenge of identifying online pedophiles who hide their identities and offenses behind layers of anonymizing technology, or drug traffickers who use virtual currencies to obscure their trades.”
On Monday, the House of Representatives passed a bill to help prevent the use of cryptocurrencies including bitcoinbest bitcoin casinos! reviews casino review casino 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.
What’s more, the U.S. Department of Justice announced Tuesday that it has seized”almost 2,000 bitcoins and other cryptocurrencies, with an approximate value of more than $20 million,” at a nationwide undercover operation targeting darknet vendors.
What do you think of the FBI tying 130 cases to cryptocurrencies? Tell us in the comments section below.
Pictures courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check our tools section.