The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto-Savvy Drug Cartels Pose New National Security Risks, Says US Congressman

by Daily Hodl Staff
October 11, 2021
in Regulators

A US Congressman says that drug cartels have ramped up the use of cryptocurrencies and crypto wallets to mask their illicit activities, presenting a new security threat.

In a new blog post on The Hill, Republican Tony Gonzales of Texas’s 23rd district says that the US government is currently facing threats from cybercriminals on multiple fronts.

“As we have seen this year, the frequency of ransomware attacks and other cybercrime continues to skyrocket and cryptocurrencies have emerged as a critical weapon for both nation-state adversaries and cybercriminals.

To protect not only the people of Texas’s 23rd but all of our citizens, the US government must win the technological fight against the cartels. The battle has only begun.”

Gonzales says that untraceable cryptocurrencies make it cheaper and more convenient for cartels to launder money, negating the need for vehicle transports, couriers, drones, wire transfers, and small aircraft.

“Compared to the investment required to purchase the equipment and labor to move money through [more] traditional methods, cryptocurrencies are a cheap way to launder their ill-gotten gains.”

Citing the FBI’s recent recovery of 63.7 Bitcoin paid by the Colonial Pipeline Company during a ransomware attack, Gonzales says that a coalition of federal law enforcement agencies are bolstering their efforts to combat online crypto crimes.

“One underappreciated agency that is positioning itself for this fight is the U.S. Secret Service (USSS). Known to the public for protecting the president, the USSS’s original mission was in protecting U.S. currency by fighting counterfeiters.

These days, Secret Service investigates different threats to the dollar, including through computer system hacks and digital currency crimes. Along with the USSS, the FBI, IRS, and Homeland Security Investigations also investigate crypto crimes — underscoring the critical need of the whole government to meet this threat head-on.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Vladimir Sazonov/Ociaci

Submit a Press Release

Industry Announcements

  • Radix Babylon Upgrade Marks New Era for Web 3.0 User and Developer Experience
    September 28, 2023
  • Tyrion Set To Decentralize the $377 Billion Digital Advertising Industry
    September 25, 2023
  • Hydranet Launches Layer Three Dex – A Game Changer for Trustless Cross-Chain Trading
    September 25, 2023
  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
  • Dexalot Unveils SimpleSwap and SimpleView Features for Enhanced User Experience
    September 19, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,855.46
$27,855.46
3.06%
Ethereum
$1,727.40
$1,727.40
3.07%
Cardano
$0.265892
$0.265892
4.77%
XRP
$0.522968
$0.522968
1.18%
Dogecoin
$0.063297
$0.063297
1.57%

Spotlight

  • Top Trader Says Bitcoin Bottom Not in Yet, Predicts New Six-Month Lows for BTC – Here’s His Downside Target
    September 24, 2023
  • Analyst Willy Woo Says This ‘Enemy’ of Bitcoin (BTC) Rearing Its Ugly Head Again
    September 24, 2023
  • Classic Bitcoin Indicator Suggests 2024 Bull Run, Says Trader Who Called May 2021 Collapse
    September 24, 2023
  • Brian Armstrong Says Crypto Lobbying Needs To Become Powerful and Sophisticated Before 2024 Election
    September 24, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl