High-Tech Crime Units Fighting Crypto Theft
While the crypto markets aren't good, fighting crypto crime is improving.
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Subscribe for free to get more stories like this directly to your inboxCybercrime has become an increasing concern as the world has become more entrenched with rapidly increasing emerging technologies. Cryptocurrency, a somewhat alternative marketplace mostly backed up by traditional fiat currency, is a common target for cybercriminals.
Earlier this year Erin West, a deputy district attorney in charge of the high technology crimes unit in Santa Clara County (California), was able to prevent a man from losing hundreds of thousands of dollars in cryptocurrency after being scammed.
West was able able to track and freeze the money to prevent the scammer from being able to access the funds. "Our bread and butter these days really is tracing cryptocurrency and trying to seize it and trying to get there faster than the bad guys are moving it somewhere where we can’t grab it." West said regarding how the process of stopping crypto crime operates.
West and her team tracked the victim's money as it bounced from one digital wallet to under until it ended up at a major cryptocurrency exchange. West's team was then able to issue a warrant and freeze the money.
While some (probably a lot) don't see the point in crypto, it's good to see fighting cybercrime is advancing past where it was a few years ago.
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