In response to the growing concern over cybercriminals exploiting cryptocurrencies for illicit activities, the United States Department of Justice (DoJ) has announced its plans to strengthen its efforts in combating crypto-related crimes. Principal Deputy Assistant Attorney General Nicole Argentieri unveiled the strategy on July 20, which includes consolidating two crucial DoJ teams: the Computer Crime and Intellectual Property Section (CCIPS) and the National Cryptocurrency Enforcement Team (NCET).
The NCET, known for its remarkable performance since its establishment, will now merge with the CCIPS, granting it access to additional resources and support. With this integration, the team’s capacity to investigate and prosecute criminal offenses related to cryptocurrency abuse will significantly expand. The number of criminal division attorneys available to work on crypto-related cases is expected to more than double, as any CCIPS attorney can now be assigned to handle NCET cases. This infusion of talent and expertise is expected to bolster the unit’s efforts to tackle cybercrimes effectively.
A notable change in the restructuring is the appointment of a new acting director for the NCET. Claudia Quiroz, a former assistant attorney from the U.S. Attorney’s Office for the Northern District of California and a deputy director of NCET since its inception, has been named as the head of the team. Her experience and knowledge in the field make her a valuable asset in leading the charge against crypto-related criminal activities.
The revamped team’s primary area of focus will be combating ransomware crimes, which have become an increasingly pervasive threat. Tracking criminals through their crypto payments will be a key strategy to prevent them from escaping justice. The DoJ aims to disrupt the financial incentives that drive these criminal operations by freezing or seizing illicit funds before they are sent to ransomware hotspots like Russia.
The National Cryptocurrency Enforcement Team was established in 2021 as part of the broader Cryptocurrency Enforcement Framework initiative by the DoJ. Under the leadership of the former Director Eun Young Choi, the team concentrated on addressing thefts and hacks involving decentralized finance, with a particular emphasis on “chain bridges.” Now, with the expansion and consolidation of the crypto crime team, the DoJ intends to send a clear message to cybercriminals that their illicit activities involving cryptocurrencies will not go unchecked.
By equipping the team with more resources, personnel, and a strong leader like Claudia Quiroz, the DoJ is taking significant steps to safeguard the integrity of the financial system and protect individuals and businesses from the threat of crypto-related crimes.
Conclusion:
With the strengthening of the crypto crime team through the merger of the NCET with the CCIPS and the appointment of Claudia Quiroz as its head, the United States Department of Justice is demonstrating its commitment to combatting cybercriminals who exploit cryptocurrencies for illegal purposes. By doubling the number of attorneys working on crypto-related cases and focusing on combatting ransomware crimes, the DoJ aims to disrupt the financial incentives driving these criminal activities and send a strong message to cybercriminals that their actions will be met with swift and decisive action.
