Last year, $4 billion in cryptocurrency stolen funds were recovered. The US five major law enforcement agencies established the "Digital Currency Crimes Special Task Force."

On June 20th, the five major law enforcement agencies in the United States announced the establishment of a special task force for digital currency crimes, focusing on combating illegal activities related to the dark web and digital currencies.

U.S. Law Enforcement Agencies Sign Memorandum of Understanding

These five law enforcement agencies include:

• Homeland Security Investigations (HSI) of Arizona

• Drug Enforcement Administration (DEA)

• U.S. Postal Inspection Service (USPIS)

• The U.S. Attorney’s Office (USAO)

• IRS Criminal Investigation (IRS-CI)

They will combat illegal activities involving cryptocurrency crimes such as drug trafficking, money laundering, identity theft, and exploitation of minors.

Nearly $4 Billion in Cryptocurrency Seized in 2022

U.S. Immigration and Customs Enforcement (ICE) announced that over the years, technological advancements have enabled drug traffickers and criminals to engage in illegal activities through digital currencies and the darknet.

Criminals have long attempted to launder money through various means, prompting authorities to adapt their enforcement tools, resources, and intelligence to keep up with relevant technologies.

The Homeland Security Investigations also tweeted that nearly $4 billion in cryptocurrency was seized just last year in illicit activities.

Working with businesses and industries that manage the very financial systems terrorists and criminal organizations seek to exploit, Homeland Security Investigations seized nearly $4 BILLION in cryptocurrency from illicit activities last year. #fraud #police #AML #finance pic.twitter.com/VbGz3bj2ny

— Homeland Security Investigations (@HSI_HQ) June 16, 2023

Scott Brown, Special Agent in Charge of HSI, stated:

HSI, along with collaborating law enforcement agencies, has been dedicated to combating criminal activities carried out through cryptocurrencies on the darknet and anonymous platforms. The newly established special task force will have a significant impact on criminals attempting to expand their operations and launder money through new technologies. We look forward to the continued development of investigations in this field.

Al Childress, Special Agent in Charge of IRS Criminal Investigation, emphasized that IRS-CI is increasingly dedicating more time to investigating crimes related to the darknet and cryptocurrencies.