Crypto Police: FBI forms Digital Currency Unit "virtual Asset Exploitation"
Crypto Police is constituted by the US FBI as a Digital Currency Unit and US Justice Department Taps Seasoned Computer Crime Prosecution.
The creation of such an agency related to computer crime after comes US justice department’s largest-ever financial seizure earlier this month.
The FBI is about to launch a Unit for Blockchain Analysis and Virtual Asset Seizure.
Highlighted Points
- Cryptocurrency is used to rely on Blockchain Technology.
- A Virtual Currency Initiative creation has been announced by Monaco.
- The FBI’s unit can track down some ransom and recover it.
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The US-based Police Force FBI has made a new team that will deal with a computer-related crime especially based on Cryptocurrency and Blockchain. The news has been announced by the FBI on Thursday that the FBI is launching a unit for blockchain analysis and virtual asset seizure.
Recently, the US Justice Department has also made seasoned computer crimes prosecutors lead its new national cryptocurrency enforcement team.
The creation of such agency and the special judicial person becomes necessary for the US administration as it had made its largest-ever seizure earlier this month, the authority charges a New York couple for allegedly laundering Bitcoins which were stolen in 2016 in a hack of digital currency exchange Bitfinex. The Bitcoins that were stolen are trading at $4.5 billion (INR 33, 750 crores).
In some of such cases, the FBI has been able to track down and recover some of the ransom.
Deputy Attorney General Lisa Monaco while giving a speech at the Munich Cyber Security Conference in Germany, announced that Eun young Choi will lead the team, a prosecutor who once led the case against a Russian hacker.
As per theLinkedIn profile, the US Attorney’s Office in New York said “We are issuing a clear warning to criminals who use cryptocurrency to fuel their schemes,” said Monaco.
She also added
“We also call on all companies dealing with cryptocurrencies- we need you to rot out cryptocurrency abuses. To those who do not, we will hold you accountable where we can.”
