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Police in many countries baffled in the investigation of crimes related to cryptocurrencies

In recent years, police in many countries have faced difficulties in investigating crime related to cryptocurrencies and dealing with these high-value digital assets. The Marshalls Service in the US seized 22 cryptocurrencies at the end of last year, valued at approximately $919 million. In February this year, about $3.6 billion worth of bitcoins were confiscated in the US. It was the largest ever financial asset seizure in the US. These bitcoins were hacked and stolen from the Bitfinex exchange about six years ago.

Ryan Korner, chief of the Criminal Investigation Division of the US Internal Revenue Service in Los Angeles, said, “These types of cases have increased exponentially over the years. We are facing this problem with almost every investigation. Trying to ensure that our agents have the technical knowledge needed to resolve these matters.” Bloomberg’s Report According to the report, the investigating officers initially have to learn how to identify the crypto wallet and obtain the private key. After this, they are given this information, how these private keys are unlocked.

A few years ago, senior police officers in Britain gave the investigating officers crypto Provided segment information and funds for training in the investigation of crypto-related crimes, seizure of these assets and setting their value. The US Federal Bureau of Investigation created a crypto unit in February to equip its agents with equipment, training and blockchain analysis. The Department of Justice has appointed Eun Young Choi as the director of the team investigating crypto-related crimes. Choi says she will focus on crypto exchanges and services called mixers or tumblers, which help hide funds.

During a conference in Munich, Germany, US Deputy Attorney General Lisa Monaco said her prosecutors would work with their European allies to crack down on crypto-related crimes. Laurel Loomis Rimon, who worked as a US government prosecutor on money laundering cases for several years, said the value of assets seized in such crimes over the years has been staggering. In these cases, it is important for the investigating officers to have technical knowledge.

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