US Department of Justice Cracks Down on Crypto Exchanges with Weak Controls as $2.5 Billion in Crypto Assets Stolen in 2022

06/13 03:50

The US Department of Justice is cracking down on crypto exchanges with weak controls that enable investment fraud and theft of investors' crypto accounts. The FBI estimates that $2.5 billion in crypto assets were stolen in 2022 alone, making it difficult to recover stolen assets due to the challenges of identifying the thief and their assets. The Federal Reserve's interest in Central Bank Digital Currency (CBDC) highlights the importance of addressing crypto theft and fraud.

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