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 at the Crypto Evolved conference Wednesday in New York, he was quoted by Bloomberg:

The instances’threat tagged’ to currencies encompass crimes such as illicit drug sales human trafficking, kidnapping and strikes.

Armstrong is in charge of the FBI money initiative, which has been around for about three years, 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 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 bureau, so it’s a little sliver at this point,” 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 by the dark web. Moreover, he claimed that the bureau has also”seen a substantial rise in extortion schemes linked 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 mentioned,”Some of our criminal researchers face the challenge of identifying online pedophiles who conceal their identities and offenses behind layers of anonymizing technologies, or drug traffickers using virtual currencies to obscure their trades.”

On Monday, the House of Representatives passed a bill to help stop the illicit use of cryptocurrencies including bitcoinBITCOIN LOTTERY rating 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 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 more than $20 million,” in a nationwide undercover operation targeting darknet sellers.

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

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