US DoJ Goes After Rogue Exchanges As Crypto Crimes Grow ‘Significantly’

US DoJ Goes After Rogue Exchanges As Crypto Crimes Grow ‘Significantly’

Eun Young Choi, the first director of the National Cryptocurrency Enforcement Team (NCET), has told reporters that crypto-related crimes have risen significantly in recent years. Through her team, the United States Department of Justice (DoJ) now plans to go after rogue exchanges that knowingly allow criminals to launder money.

NCET Wants Exchanges To Be Compliant

The Financial Times reports that Choi is concerned about the spike in crypto-enabled crimes and is setting their eyes on cryptocurrency exchanges, mixers, and tumblers. 

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Open-source token mixers such as Tornado Cash, a protocol that United States authorities have already sanctioned, are widely used by criminals to launder stolen assets. Because they make it hard for authorities to trace transactions on public ledgers, hackers are actively exploiting these tools to obfuscate

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