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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,” according to Supervisory Special Agent Kyle Armstrong. Speaking at the Crypto Evolved conference Wednesday in New York, Bloomberg quoted him:

The cases’threat tagged’ to monies encompass crimes like illicit drug sales, human trafficking, kidnapping and attacks.

Armstrong is in charge of the FBI’s virtual currency initiative, which has been around for around three years, the publication noted.

While acknowledging that his agency”takes a neutral view on electronic 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 thousands 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” has become a focus of the FBI since the agency sees”a surge in drug abuse,” enabled from the dark web. Moreover, he claimed that the bureau 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 fight 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 technologies, or drug traffickers who use virtual currencies to obscure their transactions.”

On Monday, the House of Representatives passed a bill to help prevent the use of cryptocurrencies including bitcoinno deposit bitcoin casino bitcoin casino bonus code 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 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 nationally undercover operation targeting darknet vendors.

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

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