The US DoJ created a unit of prosecutors to curb cryptocrime

The Department of Justice (DOJ) in the United States created a unit consisting of over 150 federal prosecutors whose goal will be to combat cryptocurrency-related criminal activities. In addition, the government plans to introduce a set of regulatory frameworks that will contribute to the development of the local digital asset sector.

Earlier this year, the DOJ established another division, called the “National Cryptocurrency Enforcement Team” and appointed cybersecurity lawyer – Eun Young Choi – as its head.

Focus deeper on crypto scams

In a recent interview for The Wall Street Journal, the DOJ revealed its determination to limit the use of cryptocurrencies in crimes such as money laundering and terrorist financing. As such, it formed a unit of federal prosecutors called “The Digital Asset Coordinators Network.” The specialists are expected to use their expertise to identify and prevent such illegal activities.

Eun Young Choi – the first director of the previously established “National Cryptocurrency Enforcement Team” – argued that digital assets have become increasingly popular among criminals and that focusing on the issue is of great importance.

“Crimes involving digital assets are truly interdisciplinary. They are cross-border, complex and challenging investigations, and they require a certain level of expertise, she added.

Apart from hunting down crypto fraudsters and bringing them to justice, the newly introduced division will educate other government officials on issues arising in the sector, such as tax and environmental issues.

In early 2022, the DOJ created the aforementioned “National Cryptocurrency Enforcement Team” to tackle counterfeit cryptocurrency schemes and, more specifically, cybercriminals from Iran and North Korea. In February, the department announced Choi as the unit’s head, who commented:

“We are trying to centralise, so that we are a one-stop shop for all the subject experts in the department.”

DOJ vs. cryptocriminals

It is worth noting that the establishment of the “National Cryptocurrency Enforcement Team” has positively affected the operations of the Ministry of Justice against cryptocurrency criminals.

In April, law enforcement agents confiscated $34 million worth of digital assets from a Dark Web hacker. The latter is a South Florida resident who used an online pseudonym to sell more than 100,000 illegal items across the marketplace in exchange for cryptocurrencies.

A joint investigation between several federal, state and local authorities identified the perpetrator and seized 919.3 ETH, 643 BTC, 640 BTG, 640 BCH and 640 BSV from him, marking one of the largest digital asset confiscations ever carried out by US authorities .

A month later, the DOJ charged the CEO and co-founder of Mining Capital Coin (MCC) – Luiz Capuci Jr. – for running a $62 million crypto pyramid scheme. The alleged criminal promised large rewards to users of his platform, but in exchange used their money to buy himself luxury items such as a Lamborghini, Porsche and Ferrari. Capuci could face a maximum sentence of 45 years in prison if found guilty.