FBI is Currently Running 130 Crypto-Related Investigations

FBI is Currently Running 130 Crypto-Related Investigations

Bloomberg reported on Wednesday, the U.S. Federal Bureau of Investigation (FBI) agent confirms 130 Cryptocurrency-related investigations. cryptocurrency

FBI Supervisory Special Agent Mr. Kyle Armstrong said at the Crypto Evolved Conference in New York that the FBI is investigating a variety of crimes, including drug transactions, ransomware, human trafficking, and kidnapping, which have a virtual currency component.

Besides, there has lately been a rise in a case involving digital currencies, he stated, referring opioids as one area where the bureau must concentrate on. Around 10 percent of drug users worldwide buy drugs online in illicit digital marketplaces.

Some parts of the U.S. have likewise seen an uptick in extortion schemes, where the culprits wish to use digital currencies.

He stated, these ‘threat-tagged’ investigations only make up a ‘small silver’ of the thousands of cases the FBI has.

And unlike crimes including cash, Mr. Kyle Armstrong stated the blockchain’s immutability makes it simpler to track transactions. On the other side, digital currencies anonymity or pseudonymity make it harder to investigate crime properly.

Olé Crypto,

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