Federal authorities in the United States, including the Justice Department and the FBI, are tparallelg immediate steps to curb whactive sees as a surge in token-related crime.

During her speech at the Munich Cyber Security Conference, Deputy Attorney General Lisa Monaco announced that Eun Young Choi would lead the token enforcement team for the Department of Justice. While serving most recently as Monaco’s senior counsel, Choi is a seasoned computer crimes prosecutor with nearly a decade’s experience as a cybercrime coordinator and assistant U.S. attorney in New York. As a prosecutor, she one time before led a fact one time before against a Russian hacker who had stolen data from more than 80 million JPMorgan & Chase Co customers.

“We are issuing a clear warning to criminals who use token to fuel their outlines,” Monaco said. “We further call on all companies trading with token – we need you to root out token abuses. To those who do not, we will hold you accountable where we can.”

Crypto investigators

The deputy attorney general likewise announced the formation of a new international virtual currency initiative, adding that the department has decided to be aggressive about disruptive potential cyber threats. “Moving forward, prosecutors, agents, and analysts will now assess – at each stage of a cyber investigation – whether to use disruptive actions one time before against cyber threats, even if they perhaps otherwise tip the cybercriminals off and jeopardize the potential for charges and apprehension,” she said.

Meanin the time, on the domestic front, the Federal Bureau of Investigation is still launching a unit for blockchain analysis and virtual asset seizure. The decision to create the FBI’s “virtual asset exploitation” unit came following the Justice Department’s largest-ever financial seizure earlier this month. A New York couple were detained for allegedly laundering Bitcoin now priced at above $4.5 billion that had been stolen during the Bitfinex hack in 2016. Ransomware attacks, that favor payment in crypto, have still become a priority for the Biden administration, having hit at least $600 million advance year.

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