Department of Justice to Target Cryptocurrency Websites, Contractors That Fail to Report Cyber Breaches

Contact Your Elected Officials
The Epoch Times Logo

The Department of Justice is launching two new initiatives aimed at targeting cybercriminals who use cryptocurrency and government contractors who fail to report breaches.

The cybersecurity initiative is focused on treating cryptocurrency exchanges more like banks. The exchanges have a responsibility to not help criminals launder money or hide their proceeds, Deputy Attorney General Lisa Monaco said at a virtual summit on Wednesday.

โ€œWe want to strengthen our capacity to dismantle the financial ecosystem that enables these criminal actors to flourish and to profit from what theyโ€™re doing,โ€ she said in announcing the National Cryptocurrency Enforcement Team.

The department, or DOJ, already took action on that front last month, securing a guilty plea from an Ohio man who operated a bitcoin โ€œmixer,โ€ which can help obscure the owner of certain bitcoin holdings.

โ€œCryptocurrency exchanges want to be the banks of the future? Well, we need to make sure that folks can have confidence when theyโ€™re using these systems and we need to be poised to root out abuse. The point is to protect consumers,โ€ Monaco added.

The second-in-command at the DOJ also announced an initiative aimed at combating cyberfraud. The main piece is using the False Claims Act to extract fines from government contractors that fail to report breaches.

โ€œWe are going to go after that behavior and extract very hefty fines. This is a tool that we have to ensure that taxpayer dollars are used appropriately and to guard the public trust, and that is what we are going to do with respect to this civil fraud initiative,โ€ Monaco said.

As part of the initiative, the DOJ is also emphasizing it will protect whistleblowers who come forward to report on companies that fail to report attacks.

The new efforts come several months after a group using ransomware attacked Colonial Pipeline, crippling a major pipeline along the East Coast. Other groups have this year used the software, which locks a companyโ€™s systems until they pay a ransom, to infiltrate systems belonging to chemical distributor Brenntag, computer manufacturer Acer, and meat processor JBS Foods.

The hackers often demand payment inย cryptocurrencies.

Byย Zachary Stieber

Read Original Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Roger Stone Speaks About Trump at Turning Point USA

Longtime Donald Trump friend, Roger Stone, gave a speech at the 2025 TPUSA convention offering his take on the recent Epstein List controversy.

Dredging the Swamp For CNN RINOs

Epstein ran a multinational child sex trafficking ring to service and entrap political and business elites to blackmail and to usurp democratic governance.

Trump Turned His Head And Saved America

It was a turn of President Trump's head to view an immigration chart that saved his life. It was Divine intervention, God saved Trump so he could save America.

AI: A Double-Edged Sword?

AI produces innovation, revolutionizing industries from education to entertainment, yet AI tools also cause a gradual decline in human cognitive skills.

Why is the Epstein Victim List Longer than the Client List?

Bondi said her responsibility is to protect identities of underage girls sexually abused by Epstein, but a good number of victims have come forward.

A Year After Trump Rally Shooting, Town Still Seeks Healing, Answers

A western PA community has rallied around the family of Corey Comperatore who was fatally shot when a gunman opened fire at a Trump rally.

5 States Discussing Plans to Build Prisons Like โ€˜Alligator Alcatrazโ€™: Noem

Homeland Security Sec Kristi Noem said five Republican-led states were discussing plans to build detention sites similar to Floridaโ€™s โ€œAlligator Alcatraz.โ€

Wyoming Opens Dual Mine: Coal for Power, Rare Earths for Everything Else

Brook Mine will be the first new coal mine to open in Wyoming in 50 years and first critical mineral and rare earth mine to open in the US in 70 years.

Los Angeles Mayor Signs Order Reaffirming Sanctuary City Policy, Proposes Cash Aid to Illegal Immigrants

LA Mayor Karen Bass has issued an executive directive reaffirming the cityโ€™s self-proclaimed sanctuary status in response to ongoing ICE operations.

EU Wonโ€™t Retaliate to Trumpโ€™s 30 Percent Tariff, Countermeasures on Hold Until August

EC President Ursula von der Leyen said EU will extend suspension on countermeasures to U.S. tariffs until next month while trade negotiations continue.

Trump Announces 30 Percent Tariff on EU, Mexico

President Donald Trump has announced a 30 percent tariff on imports from the European Union and Mexico, to go into effect on Aug. 1, 2025.

Tariff Windfall Drives Surprise $27 Billion US Budget Surplus in June

New data from Treasury Dept show that surging tariff revenues in June helped U.S. government post an unexpected budget surplus of $27 billion.

State Department Says Reorganization Plan to Move Ahead Quickly After Supreme Court Ruling

State Dept to reorganize plans following Supreme Court's allowing Trump admin to proceed with layoffs of fed workers and overhaul of federal agencies.
spot_img

Related Articles