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| The Ministry of Justice forms a cryptocurrency team |
The US Department of Justice has formed an investigative team to investigate the use of cryptocurrency for criminal purposes. This organization is called the National Crypto Enforcement Team NCET, which specializes in addressing cases committed by virtual currency platforms and groups, and individuals involved in money laundering.
Members are also working on a crypto-mixing service that charges customers to mix identifiable coins with other funds to cover the way to the original source of funds.
They also track and recover assets lost due to fraudulent ransom requests.
According to the Ministry of Justice's announcement, the team brought together expertise in money laundering, asset recovery, computer crime and intellectual property management. This includes experts from the US Attorney's Office.
The Deputy Prosecutor is monitoring the team. Although the Department of Justice is still looking for someone to run it.
The Department of Justice is looking for people with experience in complex criminal investigations and prosecutions, particularly in the underlying technologies of cryptocurrency and blockchain.
It is hoped that NCET will be able to provide government and other government agencies with the crypto and blockchain expertise needed today to investigate and prosecute more and more technology-related cases.
Team investigates cryptocurrency issues
Cybercrime incidents have increased in recent years. Including ransomware attacks, attackers target companies and host their networks in exchange for cryptocurrency payments.
Some of them have real-world repercussions. Attacks on colonial pipelines, for example, led to fuel shortages on the East Coast. Although various attacks on hospitals around the world put people's lives at risk.
The Biden government will hold meetings with 30 countries later this month to discuss threats from ransomware attacks to the global economy and national security.
“We have launched a National Crypto Law Enforcement Team to leverage e-governance and money laundering expertise to improve our ability to degrade financial institutions that enable criminals to thrive through the abuse of cryptocurrency platforms,” the deputy attorney general said in a statement. to say.
"As technology advances, so must management," she added. This way we can eliminate abuse on these platforms and ensure user trust in these systems.