Arab Press

بالشعب و للشعب
Tuesday, Aug 26, 2025

DOJ Sees Crypto Seizures as a Priority in Anti-Ransomware Push

DOJ Sees Crypto Seizures as a Priority in Anti-Ransomware Push

Crackdown could face hurdles if more hackers use privacy enhanced cryptocurrency
The Justice Department is increasingly trying to claw back ransomware payments made by hacked companies and is training cryptocurrency experts who can track funds across sometimes sprawling overseas criminal networks.

Ramping up seizures is a key prong of the U.S. strategy to slow a spate of ransomware attacks that the White House has labeled a top national-security threat, said Leo Tsao, principal deputy chief of the Justice Department’s money laundering and asset recovery section. The focus on retrieving payouts comes alongside the Biden administration’s push to shore up firms’ defenses, disable hackers’ tools and pressure foreign governments to crack down on criminals.

“One of the priorities of the department, in addition to prosecuting individuals carrying out these crimes, is to [get to] where we can seize and recover any proceeds that the criminals may earn from ransomware attacks or other cryptocurrency crimes,” Mr. Tsao said Tuesday at The Wall Street Journal’s Risk & Compliance Forum.

He didn’t offer details on whether federal officials would focus on ransoms paid by particular firms, such as critical infrastructure owners, or sums that reached certain dollar thresholds. The Justice Department didn’t immediately respond to a request for comment.

The Biden administration in June said it would expand efforts to track such transactions after ransomware gangs targeted a U.S. pipeline operator and a meat processor, disrupting their operations and extracting multimillion-dollar ransom payments. The White House’s emerging strategy in response spans law-enforcement and regulatory agencies.

The Treasury Department last month sanctioned a Russian-owned cryptocurrency exchange for allegedly aiding hackers to launder ransomware payments, a first-of-its-kind move that cybersecurity experts say could preview additional international restrictions. Last week, the Justice Department said it is creating a crypto unit to zero in on exchanges and “mixer” services that hacking groups use to move funds between various cryptocurrency addresses in ways intended to conceal the transactions from authorities.

That National Cryptocurrency Enforcement Team will also conduct training and support other law enforcement agencies’ ransomware cases, Mr. Tsao said Tuesday.

“We have had to do a lot of educating within the department,” he said of the DOJ.

Mr. Tsao pointed to the May attack on Colonial Pipeline Co. as an example of how federal officials are adapting to trace and seize money in such extortion schemes. In June, the Federal Bureau of Investigation snagged $2.3 million of bitcoins paid by Colonial during the attack that disrupted the East Coast’s largest conduit for fuel for six days.

Investigators can follow crypto transactions across a public ledger known as a blockchain, giving them a bird’s-eye view of money changing hands in a fast-growing ransomware economy.

The gangs behind attacks, which often operate with relative impunity in Russian-speaking countries, extorted businesses for at least $350 million in cryptocurrency last year, according to blockchain analytics firm Chainalysis. Cybersecurity experts say the total sum is likely much higher because some victim companies don’t report incidents.

While authorities are expanding their ability to track digital currencies, ransomware groups are similarly adapting their money-laundering strategies, Mr. Tsao said. That includes using overseas exchanges outside the reach of U.S. officials and cryptocurrencies designed to obscure transactions and better shield owners’ anonymity.

“Cryptocurrency presents additional challenges above and beyond fiat currency,” he said.

The government says combating cybercrime, including ransomware, requires a coordinated approach, including by other governments and the private sector.

“Simply prosecuting your way out of this problem is not a solution,” Mr. Tsao said, adding that working with companies will be an important part of the response, particularly in the cryptocurrency sphere.

The U.S. plans a 30-nation summit this month to discuss international cooperation in combating cybercrime.

Mr. Tsao was also asked if the Justice Department would look into the Pandora Papers recently released by the International Consortium of Investigative Journalists, which linked a number of politicians, public officials and celebrities to offshore tax havens, with some tied to financial crimes like money laundering.

Mr. Tsao said he was aware of the Pandora Papers, “but beyond that, there’s not really much more I can say about this topic.”

The Justice Department has historically prioritized combating international corruption and international money laundering, he said.

“I’ve spent a large part of my career as an anticorruption and anti-money-laundering prosecutor,” he added. “I have no doubt that foreign officials and foreign actors are using cryptocurrency to help launder funds, especially the proceeds of corruption, and we’ll continue to prioritize that at the department.”
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
×