The United States Department of Justice (DoJ) is beefing up its crypto fighting team in order to combat crypto-related crimes. With the increased number of cryptocurrency-related prosecutions, the Department of Justice is taking aggressive steps to guarantee that offenders face the repercussions of their conduct.
One of the DoJ’s members recently reaffirmed its plan to reorganize the crypto crime unit in a speech. The National Cryptocurrency Enforcement Team (NCET) will be merged with the Computer Crime and Intellectual Property Section (CCIPS). By combining forces, it is hoped that more professionals will be available to fight crime with stronger resources. Furthermore, the newly established team will have more personnel and more finances at its disposal. This allows them to easily combat crypto criminality.
The NCET, which was previously part of the Cryptocurrency Enforcement Division, will no longer be a permanent element of the criminal division. This specialized team will handle a variety of computer investigations, with the primary goal of combating ransomware.
The crypto fighting team’s main mission is to track cryptocurrency transactions and freeze suspicious ones. Furthermore, they will closely examine the blockchain and accounts involved in the transactions, freezing and tracking them as well. The team can demolish criminal organizations by simply following where the monies are going. Hopefully, justice will be served quickly.
NEWS: 🇺🇸 US Justice Department boosts Crypto Crime Team to tackle ransomware! 💻🔒 #CyberSecurity
— Walletor (@walletorapp) July 21, 2023
Ransomware assaults have grown in popularity in recent years, with attackers employing cryptocurrency for payment. These attacks not only target small individuals but also large corporations, causing significant harm and loss.
To effectively combat the threat of ransomware, the new crypto crime squad will work to bring offenders to justice. By merging and increasing their numbers, the team will be better positioned to safeguard the public from these risks.
Conclusion
Finally, the US Department of Justice is proactively combating cryptocurrency-related offenses. The overhauled squad intends to destroy criminal networks by tracking crypto transactions and freezing suspect accounts. This is a huge step toward protecting the public from the growing menace of ransomware. In addition, the team intends to work diligently to counteract any cryptocurrency-related crimes.
