David Smith, assistant director of investigations, said agents and analysts actively track the flow of bitcoin and other cryptocurrencies on the blockchain, similar to an old-fashioned surveillance.
That scheme involved posting false ads on popular online auctions and sales websites for luxury items that did not exist, and the delivering of invoices supposedly from reputable companies, making it appear the transactions were real.
“One of the things about cryptocurrency is it moves money at a faster pace than the traditional format,” Smith said, adding that the quick pace of transactions makes it attractive to both American consumers and criminals.
They want to avoid some of that market volatility associated with some of the major coins,” he said.