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Cryptocurrencies

FBI seizes USD 4.5 mln cryptocurrency in dark web bust

Thursday 28 March 2019 | 01:56 PM CET

The Federal Bureau of Investigation (FBI) has revealed its latest dark web investigation, which saw over USD 4 million worth of cryptocurrency seized from criminals.

The so-called Operation SaboTor, which was led by members of the Joint Criminal Opioid and Darknet Enforcement (J-CODE) team, resulted in 61 arrests and the shutdown of 50 dark web accounts associated with online criminal activity. Moreover, the operation confiscated nearly 300 kilos of drugs, 51 firearms, and about USD 4.5 million worth of cryptocurrency, USD 2.48 million in cash, and USD 40,000 worth of gold. However, what cryptocurrencies were seized has not been disclosed.

Operation SaboTor ran from 11 January to 12 March 2019, and law enforcement agencies, such as the Drug Enforcement Administration (DEA), US Immigration and Customs Enforcement Homeland Security Investigations (HSI), US Customs and Border Protection (CBP), teamed up with the FBI to carry out the operation. In the meantime, the US government is trying to deanonymise cryptocurrency, while new EU regulations are making it even harder to obscure one’s identity when buying Bitcoin online.

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