From ransomware payments demanded in cryptocurrencies to state actors using digital assets to circumvent sanctions and other restrictions, the Department of Justice (DOJ) is raising the alert that crypto is expanding into every area the agency is exploring.

“We are seeing cryptocurrency and digital assets really touch every aspect of criminal activity we investigate,” stated the DOJ’s director of National Cryptocurrency Enforcement Team (NCET), Eun Young Choi at a recent conference hosted by the Financial Times.

With representatives from the Department of Justice in the U.S., the National Police in the U.K. and the private sector, the panel titled “Can law enforcement protect consumers from crypto scammers?” aimed at addressing current issues plaguing the industry.

Acknowledging that the DOJ has had a team investigating cybercrime for many years now, Choi said the agency has seen a tremendous increase in crypto related crime over the past several years.

Looking to gauge the perspective from the other side of the Atlantic, Phil McInerney, Detective Chief Inspector at the National Police Chief’s Council (NPCC) in the UK told the panel “ransomware particularly was a key threat to the UK.”

Both government law enforcement officials stated that cryptocurrency-related crime required a different approach

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Author: Pedro Solimano

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