- American intelligence services have confirmed that they are monitoring cryptocurrencies
- They are preparing a number of new projects in this direction
- The CIA will be assisted by industry experts
US intelligence agencies are studying the use of blockchain in the fight against cybercrime. This was confirmed by CIA Director William Burns at the Wall Street Journal’s Board of Directors Summit. His agency has already developed several projects focused on digital assets.
According to Burns, the CIA is now looking for experts on blockchain and cryptocurrencies. They will work in a team of intelligence analysts. In addition, intelligence agencies are consulting with industry experts to plan next steps.
William Burns admits the CIA is already tracking digital currencies:
“We have launched a series of different projects focused on cryptocurrency … We give our colleagues in the US government reliable information about what we know.”
One of the top priorities for intelligence agencies is to track and identify ransomware attacks. The CIA has previously recognized that blockchain will be useful in this matter. Public transactions will become a reliable forensic tool.
What is ransomware?
Ransomware is a type of malware that restricts or completely blocks a computer or network until the victim completes a payment request. Often, criminals demand payments in BTC or XMR. Since files on the infected computer are encrypted, they cannot be read without the correct decryption key.
This year, ransomware in the United States has paralyzed a major oil pipeline, meat processing plants, and the IT infrastructure of many companies. The Biden administration has prioritized addressing this issue. In one of the statements, the US government said it plans to closely monitor cryptocurrency flows.