United States appoints National Cryptocurrency Enforcement Team to curb malware spread

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The United States Department of Justice (DoJ) has announced on Thursday last week that it is going to block misuse of cryptocurrency by cyber criminals by appointing a dedicated team of experts to detect, analyze and prosecute those involved in the crime.

In a statement released early today, a source from DoJ said that the government will appoint a prosecutor and a former senior counsel member, Eun Young Choi, as the First Director of the National Cryptocurrency Enforcement Team (NCET).

NCET will compromise a panel of attorneys, prosecutors with some knowledge over the digital currency and will be assigned with the duty to investigate, support, and pursue all crimes involving cryptocurrency, including cyber crime.

Highly placed sources from White House say that the newly formed team of experts will not only keep an eye on the crypto misuse in the Biden led nation, but will also have the powers to coordinate with the law enforcement agencies across the world in solving various crimes.

Thus, with the establishment of NCET, one can hope a lot slowdown in the spread of cyber crime such as ransomware and other malware spread, as most of the criminals involved in such crime transact through cryptocurrency.

Note 1- In January this year, a team of cybersecurity experts initiated by DOJ and backed by FBI led a secret operation where they succeeded in nabbing a criminal gang that was involved in a Bitcoin heist worth $3.6 billion. Information is out that the gang of cyber crooks who were nabbed by the law enforcement were involved in stealing digital currency from a BTC exchange firm dubbed Bitfinex.

Note 2- Therefore, to launch more such criminals, the government of America has now established a dedicated team of experts under the label of NCET.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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