Immigration and customs service (ICE) told in detail about the methods they use to expose the illegal transactions of the drug dealers that use cryptocurrencies to hide their tracks.
In a written statement to the Senate Committee on 25 January, the Deputy assistant Director of ICE Greg Nevano said that the Agency is watching more and more cases of the use of cryptocurrencies for illegal trafficking of drugs, e.g., opioids.
Struggling with this growing problem, the Agency said that it takes different strategies to expose the traffickers, who are turning to the cryptocurrency because such transactions are difficult to trace.
From the report Nevano:
In addition to the other measures in the field of financial investigations ICE use the hidden techniques to expose and punish p2p transactions in the cryptocurrency, which usually laundered proceeds of criminal networks that support black markets.
In addition, Nevano noted that ICE is using “sophisticated tools for the study of blockchain technology” to analyze cryptocurrency transactions and to discover their IDs. In addition, the Agency proposes to train specialists for the cooperation in solving this problem.
Despite the fact that Nevano did not disclose accurate information about the research Agency of cryptocurrency, it is obvious that ICE makes every effort to understanding the essence of the technology of the blockchain of cryptocurrency, and to deny its basic function — anonymity.
Criminal gangs are increasingly using cryptocurrency to launder money and to pay for illegal activities — especially coins with a high level of anonymity (zcash for, Monero, etc.).