FBI Heading 'Huge' US Govt. Drive To Fight Fraud In Crypto Currencies - Cyber Threat Chief


FBI Heading 'Huge' US Govt. Drive to Fight Fraud in Crypto Currencies - Cyber Threat Chief

WASHINGTON (UrduPoint News / Sputnik - 30th May, 2019) The FBI is spearheading a majorsecurity initiative to crack down on fraud, manipulation and other criminal activities in the field of crypto currencies, US Cyber Threat Intelligence Integration Center (CTIIC) Director Erin Joe said on Wednesday.

"There is a huge effort in the FBI looking at ways to stop malicious activity associated with crypto currency," Joe told a panel on cyber security threats at the Aspen Institute. "It's a relatively new thing ... There's a huge effort going on with respect to that one in particular."

Internet Governance Project (IGP) Co-Founder and Co-Director Milton Mueller noted that even nation states were getting involved in the practice using cyber capabilities to generate profits from crypto Currency frauds.

"I'm looking at ... incursions that look to be like nation states... They use the computing power of the private entity to create coins: That s one trend," he said.

The crypto currencies market continued to boom on Wednesday as Bitcoin hit its highest trading value this year. Since the start of this year, it has risen 130 percent. Bitcoin last traded in the $8,700-$8,800 range over a year ago, in the second week of May 2018.