FBI Investigating Agency Seized Millions in Cryptocurrency, Arrested 61 Criminals and More

FBI

FBI Investigating Agency Seized Millions in Cryptocurrency, Arrested 61 Criminals and More

Announced on March 26, 2019, the Federal Bureau of Investigation (FBI) reported the result of their joint operation and reveals that they seized over $4 million worth of cryptocurrency from criminals.

Seized $4.5million worth of Cryptocurrency

According to the latest release, the result of the coordinated effort of Joint Criminal Opioid and Darknet Enforcement (J-CODE) on a project called ‘Operation SaboTor’, which was to scrutinize the entities participating in drug trafficking on the Darknet. Consequent to the report, FBI has succeeded in seizing $4.5million worth of Cryptocurrencies, at least 61 members arrested and regulators certainly cracked down 50 accounts on the darknet that was involved in illegal use cases.

While $4.5 million in crypto was seized, authorities also stated that $2.48 million in cash, $40000 in Gold, 51 firearms, nearly 300 kilos of drugs and $40000 worth of gold was confiscated. However, authorities didn’t reveal the name of seized cryptocurrency.

To note, Operation SaboTor began on Jan 11 and ended on March 12. The enforcement agencies or J-CODE organizations involved with FBI in the operations include Drug Enforcement Administration (DEA), US Immigration and Customs Enforcement Homeland Security Investigation (HSI), US Customs and Border Protection (CBP), United States Postal Inspection Service (USPIS), Department of Justice (DOJ), and Department of Defense (DOD).

Concerning the similar regard, Catherine De Bolle, Europol Executive Director said that;

“The [dark web] is not as dark as you think. When you buy or sell illegal goods online, you are not hidden from law enforcement and you are putting yourself in danger,”

While the market is still in bearish mode, hacking, hijacking, dark web and illegal use cases of Bitcoin and cryptocurrency continued rising in the crypto market. As such, darknet or dark web activities also mark the negative impact on the use-cases of decentralized crypto assets.

What do you think the best way to crackdown these illicit/dark web activities? Share your thoughts with us.

Summary
Breaking - FBI Investigating Agency Seized Over $4Million Worth Cryptocurrency
Article Name
Breaking - FBI Investigating Agency Seized Over $4Million Worth Cryptocurrency
Description
Announced on March 27, 2019, the Federal Bureau of Investigation (FBI) reported the result of their joint operation and reveals that they seize over $4 million worth of cryptocurrency from criminals.
Author
Publisher Name
Coingape
Publisher Logo
Show Comments

Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Reach out to her at [email protected]