FBI sets up new cryptocurrency division, U.S. wants to crack down on cybercrime

On February 18, Beijing time, the U.S. Department of Justice assigned Eun Young Choi to lead its cryptocurrency enforcement team. Not only that, the FBI has also set up a new department responsible for blockchain analysis and virtual asset seizure. The FBI is part of the U.S. Department of Justice.

At the beginning of the month, a New York couple laundered money for bitcoin. Arrested in a case worth more than $4.5 billion. The couple are suspected of being involved in money laundering after hacking the cryptocurrency exchange Bitfinex in 2016 and stealing a large amount of bitcoin. Last year, Colonial, the largest U.S. fuel pipeline operator, and JBS, the world’s largest meat supplier, were extorted by hackers, who demanded a ransom in bitcoin.

Deputy Attorney General Lisa Monaco announced the appointment during a speech at the Munich Cybersecurity Conference.

Choi, Monarch's senior legal counsel, has nearly a decade of experience as a cybercrime coordinator and assistant prosecutor in New York.

Monarch sent a strong signal in his speech: the United States should crack down on cybercrime.