Coin Edition -
- Lawyer questions DOJ’s claim of increased crypto crime, demanding evidence.
- US regulator emphasizes laser-focused mission to target crypto exchanges.
- The NCET intensifies efforts against crypto investment scams, recovering $112M.
Renowned crypto lawyer John Deaton has taken to Twitter to question a claim from the U.S. Department of Justice (DOJ) that crypto crime has ‘skyrocketed’ in the last four years. Deaton expressed skepticism and demanded evidence to support the assertion.
The lawyer’s statement came in response to a tweet from crypto influencer Keyur Rohit, who quoted DOJ’s head of crypto enforcement, Eun Young Choi, saying that the agency is “laser-focused” on targeting crypto exchanges that enable criminals to profit and cash out easily.
In his tweet, Deaton asked for proof of the DOJ’s claims, pointing out that the agency has a history of making unsubstantiated claims about crypto crime. He also noted that the DOJ has yet to release any data on the amount of crypto crime that has occurred in recent years.
“At this point, when someone in this administration claims anything related to crypto, I want to see proof,” the crypto lawyer argued.
Where is the proof or the stats that support this “skyrocketed” claim. At this point, when someone in this administration claims anything related to crypto I want to see proof. After all, these are the people who claim Chokepoint 2.0 was a wild conspiracy. https://t.co/grvGYgwhqM— John E Deaton (@JohnEDeaton1) May 18, 2023
In a recent interview with the Financial Times, Choi discussed the DOJ’s intensified focus on combating illicit behavior in crypto, particularly targeting exchanges that facilitate criminal activities. Choi emphasized the need for strict compliance and risk mitigation measures, pledging to end alleged the rise in crypto-related crimes.
2/ In an exclusive interview with the Financial Times, Choi revealed the DOJ's laser-focused mission to target #crypto exchanges that enable criminals to profit from their dirty deeds and cash out with ease— Keyur Rohit (@CryptoKingKeyur) May 15, 2023
However, the crackdown does not stop at exchanges alone. Crypto influencer Rohit tweeted that the National Cryptocurrency Enforcement Team (NCET) is intensifying its efforts to combat crypto investment scams under Choi’s guidance.
Choi exposed the sinister nature of such schemes, known as “pig butchering,” where fraudsters employ long-term relationships to gain the victim’s trust. The NCET has recently dismantled six such scams and recovered a staggering $112 million.
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