NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

The FBI Will Launch A Ransomware-Focused Unit To Monitor Cryptocurrencies

Eduardo Próspero
Eduardo Próspero
1 year ago
4 mins read
The FBI logo, graffiti version

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Both the FBI and the U.S. Justice Department are making moves in the crypto space. Recent high-profile victories offered the necessary incentive for both organizations to take action. Reuters reports that the Justice Department hired “a seasoned computer crimes prosecutor” as their new crypto zar. For their part, the “FBI is launching a unit for blockchain analysis and virtual asset seizure.”

Both moves are a clear indication of the U.S.’s newfound attitude towards cryptocurrencies. 

The Justice Department’s New Crypto Czar

The U.S. Justice Department’s National Cryptocurrency Enforcement Team (NCET) has a new leader. The chosen one is Ms. Eun Young Choi, “a prosecutor who led the case against a Russian hacker who helped steal information about more than 80 million JPMorgan & Chase Co customers.”

In the Justice Department’s press release, they quote Director Choi:

 “The NCET will play a pivotal role in ensuring that as the technology surrounding digital assets grows and evolves, the department in turn accelerates and expands its efforts to combat their illicit abuse by criminals of all kinds. I am excited to lead the NCET’s incredible and talented team of attorneys, and to get to work on this important priority for the department.” 

At Young Choi’s announcement, Reuter quotes Deputy Attorney General Lisa Monaco warning criminals of their organization’s aims:

“We are issuing a clear warning to criminals who use cryptocurrency to fuel their schemes. We also call on all companies dealing with cryptocurrency – we need you to root out cryptocurrency abuses. To those who do not, we will hold you accountable where we can.”

Their organization is going to move fast and break things, according to Monaco:

“Moving forward, prosecutors, agents, and analysts will now assess – at each stage of a cyber investigation – whether to use disruptive actions against cyber threats, even if they might otherwise tip the cybercriminals off and jeopardize the potential for charges and apprehension.”

BTCUSD price chart for 02/18/2022 - TradingView

BTC price chart for 02/18/2022 on Easymarkets | Source: BTC/USD on TradingView.com

Why Is The FBI Creating On A Crypto-Focused Unit Right Now?

Remember those high-profile victories we mentioned? Well, of course, the recent capture of the alleged Bitfinex hackers is one of those. “The creation of the FBI’s “virtual asset exploitation” unit comes after the Justice Department’s largest-ever financial seizure earlier this month,” said Reuters. When NewsBTC covered the story, to summarize the situation, we used the unanswered questions:

“Could this tech entrepreneur and this writer/ rapper have hacked a cryptocurrency exchange? Or are they just the money launderers for a bigger operation? And, did they really save the private keys to billions in BTC on the cloud? Or were they set up? Is law enforcement playing tricks on the public or are they the heroes of the day?” 

The other high-profile victory is the Colonial Pipeline hack. According to Reuters, the FBI is “ratcheting up their scrutiny of the crypto industry in the wake of a series of high-profile cyberattacks last year on the largest U.S. fuel pipeline network and the world’s largest beef supplier.” When law enforcement recovered millions in BTC from the Colonial Pipeline ransomware payout, NewsBTC summarized the situation like this:

“According to the report, Colonial Pipeline controls around 45% of the fuel for the U.S. East Coast. Its CEO Joseph Blount was forced to pay the ransom enforced by the hacker on a control room’s main computer. Estimated in around $4.4 million paid in 63.7 Bitcoin.

The operation was carried out by a special ransomware task force created by the U.S. Federal Government. This type of attack has become regular. There is a growing concern in the public and the authorities.”

That growing concern ended up creating a new crypto czar and a new FBI unit focused on the problem.

Conclusions And Market Considerations

There’s a growing concern about how will these high-profile seizes affect the market. Will law enforcement just give the BTC to Bitfinex? Or, will they auction it instead? Will the U.S. absorb it as Bitcoin in their balance sheet? How will law enforcement play it? And what will happen if those coins reach the market in any of those ways?

The Bitfinex hack could become a landmark case and point in the direction that the government will go with all of this. Don’t worry, for you, NewsBTC will keep an eye out for every little development.

Featured Image by Marija Zaric on Unsplash  | Charts by TradingView
Tweet123Share196ShareSend
Eduardo Próspero
Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper.
A Bitcoin maximalist in disguise.
Working on a Bitcoin book.
Venezuelan.

Read more

He wrote a novel, but it's only available in Spanish. It's called "La Tormenta."

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative

Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative

Bitcoin is undergoing a slight retrace after hitting a new all-time high of $123,000 on Monday. While the broader trend...

Sebastian Villafuerte 4 hours ago

Price Isn’t the Only Thing Rising – FUNToken’s Roadmap Execution Is Gaining Speed Too

When most people look at FUNToken’s chart, the first thing they see is a remarkable surge in value. From trading...

News BTC 5 hours ago
Ethereum

Ethereum Shines Bright As Bank Of America Begins Digital Asset Tracking

A new weekly “On Chain” report from Bank of America is shining a spotlight on Ethereum. According to the report,...

Christian Encila 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

Ethereum Forms ‘Pure Cup And Handle’ Pattern After Hitting $3,000, Analysts Set New Targets

Scott Matherson 31 minutes ago
SharpLink Gaming Buys $73M in Ethereum – Smart Money Loads the Dip

SharpLink Gaming Buys $73M in Ethereum – Smart Money Loads the Dip

Sebastian Villafuerte 1 hour ago
Cardano

A Breakout To Remember: Cardano Price Mirrors Market Conditions That Led To $3.10 ATH

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    12 minutes ago
  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    6 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    6 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    7 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    7 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.