Crypto Use on the Dark Internet mBit site

FBI’s 130 Crypto-Related Cases

The Federal Bureau of Investigation (FBI) allegedly”has 130 cases tied to cryptocurrencies,” based on Supervisory Special Agent Kyle Armstrong. Speaking in the Crypto Evolved conference Wednesday in New York, Bloomberg quoted him:

The instances’threat tagged’ to currencies encompass crimes like illicit drug sales, human trafficking, kidnapping and strikes that are ransomware.

Armstrong is in charge the publication noted.

While acknowledging that his agency”takes a neutral view on digital tokens, he noted several pros and cons,” the news outlet conveyed and lent him explaining that the FBI has noticed a rise in illegal activity facilitated by cryptocurrency payments. “There are thousands of cases in the agency, so it is a little sliver at this time,” he elaborated and internet 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 misuse,” enabled from the dark web. Moreover, he claimed that the agency has also”seen a significant 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 technologies to combat cybercrime. The bureau cited,”A number of our criminal investigators face the challenge of identifying online pedophiles who conceal their crimes and identities behind layers of anonymizing technology, or drug traffickers who use virtual currencies to obscure their transactions.”

On Monday, the House of Representatives passed a bill to help stop the illicit use of cryptocurrencies such as review This bill shortly 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 nationally undercover operation targeting darknet vendors.

What do you think of the FBI tying 130 instances to cryptocurrencies? Let us know in the comments section below.

Images courtesy of Shutterstock.

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