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US Justice Department Launches New Unit to Combat Crypto Crime 

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Man stealing bitcoin from bank

The US Department of Justice has unveiled a cryptocurrency enforcement unit for blockchain analysis and virtual asset seizure amid rising cases of cyber-attacks.

Source: Reuters

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Deputy Attorney General Lisa Monaco has also announced a new international virtual currency initiative that would work to disrupt cyber threats even at the expense of tipping off the criminals and damaging possible charges.

Monaco announced that Eun Young Choi, a seasoned prosecutor, will lead the new team. Choi recently served as Monaco’s senior counsel and worked for ten years as a cybercrime coordinator and assistant US attorney in New York.

Monaco urges cryptocurrency companies to help call out bad actors in the sector. She warns of criminals using crypto to perpetrate crime.

The move follows a recent announcement by the Department that it had seized $3.6 billion worth of stolen crypto assets in connection with the 2016 Bitfinex hack.

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