On May 19, the Financial Crimes Enforcement Network (FinCEN) recognized several federal agencies in the United States whose joint investigation led to the seizure of $22 million worth of crypto-currencies from the darknet operators.
Crypt-related fraud and theft resulted in a loss of $4.4 billion by 2019
This is an annual recognition by which FinCEN honors law enforcement agencies for using Bank Secrecy Act reports to successfully pursue and prosecute criminal investigations. The investigation involved the department’s Immigration and Customs Enforcement Investigations – Homeland Security, the U.S. Postal Inspection Service, and the U.S. Secret Service:
„The results of the investigation identified the darknet vendors who were sending Bitcoin illegally gained with a physical receiving address via an encrypted email to conduct this cash withdrawal scheme. This withdrawal provider charged between 12 and 16 percent, depending on the amount of digital currency being charged.
Hackers sell data of 129 million Russian car owners for Bitcoin
Everything is big in Texas
The researchers used the information they obtained from a
- Bitcoin Trader Website
- Crypto Trader Website
- Bitcoin Investor Website
- Crypto Investor Website
- Bitcoin Billionaire Website
. This massive joint research effort:
The role of cryptomoney as a medium of exchange in the Darknet
„Completed after the arrest of 42 people, the seizure of USD 22 million in various digital currencies, USD 3.5 million in cash, 120 firearms, 15 pill pressing machines and a wide range of controlled substances. The United States Attorney’s Office, Northern District of Texas, prosecuted this case.
Kryptomone-related crime is a multi-billion dollar industry, although only a small percentage of Kryptomone-related transactions represent illicit activities.