While the world is focused on battling the coronavirus, cyber attacks have increased in the healthcare field and for individuals. Veuer’s Justin Kircher has the story.The Justice Department on Thursday announced its first director of the National Cryptocurrency Enforcement Team, Eun Young Choi, who will be charged with prosecuting criminal cases related to the use of cryptocurrency and digital assets.
The rise of cryptocurrency has given criminals an avenue for cyberattacks, ransomware and extortion schemes, as well as trafficking narcotics and selling illicit goods online in an untraceable manner, Assistant Attorney General Kenneth A. Polite Jr.
A graduate of Harvard University and Harvard Law, Choi served as senior counsel to deputy attorney general Lisa O. Monaco. Monaco was recently involved in the arrest of an alleged conspiracy to launder $4.5 billion in stolen cryptocurrency from the 2016 hack of Bitfinex, a virtual currency exchange. The Manhattan couple involved in the alleged scheme set up fictitious accounts and used a variety of virtual currency exchanges to hide the trail of money.
The appointment comes at a time when tensions between Russia and the United States are escalating and after a series of cyberattacks from Russian actors, such as the hacking of the Colonial Pipeline back in May. Michelle Shen is a Money & Tech Digital Reporter for USA TODAY. You can reach her @michelle_shen10 on Twitter.
CRYPTO = Currency of SCAMMERS & with the FEDS' blessings!
just ban them
Considering the US dollar is strictly exchanged on good faith, digital assets is next up.