The U.S. Department of justice officially established the cryptocurrency enforcement team NCET to co

Original title: the U.S. Department of justice officially established the cryptocurrency enforcement team NCET to combat bitcoin extortion

Source: Vision China
Reporter Si Linwei
On October 6, according to the official website of the U.S. Department of justice, Lisa O. Monaco, Deputy Attorney General of the U.S. Department of justice, announced the establishment of the cryptocurrency enforcement team (NCET) to deal with the increasing proliferation of complex crimes in the field of cryptocurrency, especially currency mixing services, providing infrastructure for money laundering and other crimes. It is reported that the team will also assist in tracking and recovering assets lost due to fraud and extortion, including cryptocurrency paid to extortion software gangs.
Lisa O. Monaco, Deputy Attorney General of the U.S. Department of justice, said in her speech: "today, we officially launched the national cryptocurrency law enforcement team to use the Department's network and anti money laundering expertise to strengthen our fight against financial entities that provide services for cryptocurrency crimes and illegal profits from the use of cryptocurrency."
In recent years, crimes in the field of cryptocurrency in the United States have occurred frequently.
On June 9 this year, JBS, the world's largest meat supplier, announced that it had paid a bitcoin ransom worth $11 million to hackers. Previously, JBS once closed factories in the United States due to hacker network attacks, resulting in a sharp drop in beef and pork production and even endangering the U.S. meat supply chain.
Subsequently, the Federal Bureau of investigation (FBI) confirmed that the mastermind behind the blackmail was the Russian hacker organization Revil, which tried to blackmail then US President Donald Trump for us $42 million in 2020.
On September 8 last month, the New York Times reported that the IT director of Suffolk County Government in riverhead, New York faced up to 15 years' imprisonment for "stealing electricity" to mine bitcoin in the government office.
The U.S. Department of justice noted that cryptocurrency is becoming the preferred target for hackers' blackmail and the currency in circulation in the "black market". Therefore, the U.S. Department of justice stressed that the newly established NCET team will use and build the expertise of the entire criminal department to prevent, destroy, investigate and prosecute the criminal misuse of cryptocurrency, and recover the illegal proceeds of these crimes as much as possible.
It is reported that NCET is based on the cryptocurrency supervision plan of mlars (Criminal money laundering department and asset recovery section of the U.S. Department of Justice). Moreover, since crimes involving cryptocurrency can take many forms, NCET will not only trace its own cases, but also support the handling of current and future cases involving the criminal department and U.S. prosecutors' offices all over the country.
In addition to its broad scope, its team members are also the internal elite of the U.S. Department of justice.
According to the regulations, the head of the NCET team reports directly to the assistant attorney general of the criminal division, and will lead the lawyer teams of mlars (Criminal money laundering division and asset recovery section of the U.S. Department of Justice), CCIPS (computer crime and intellectual property section) and Assistant U.S. prosecutor (Ausa) from the U.S. prosecutor's office all over the country to identify, investigate Support and track down cryptocurrency exchanges, infrastructure providers, and other entities that abuse cryptocurrency and related products to commit or promote criminal activities.
The NCET team members will be drawn from three departments: mlars (Criminal money laundering division and asset recovery section of the U.S. Department of Justice), CCIPS (U.S. computer crime and intellectual property section) and staff from U.S. prosecutor's offices to the criminal division throughout the country.
According to the U.S. Department of justice, NCET team members will use the expertise of their headquarters, cooperate under the guidance of the team leader, and combine their expertise in financial system, blockchain technology, transaction tracking and applicable criminal regulations to solve illegal activities involving cryptocurrency in a structured way.