Beautiful Virgin Islands

Monday, Aug 10, 2026

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

Beautiful Virgin Islands
0:00
0:00
Close
Russia’s A7 Builds a State-Linked Payments Network Beyond Western Sanctions
Hyper-Realistic Reborn Dolls Draw Collectors Seeking Comfort and Craft
Gen Z Cuts Back on Dating as a Night Out Nears $200
Patients Turn to Artificial Intelligence for Therapy as Psychiatrists Warn of Privacy and Clinical Risks
Couples Embrace ‘Sleep Divorce’ to Protect Rest and Reduce Tension
Meta Ordered to Pay $567 Million and Change Facebook and Instagram Safeguards for Children
Up to only 10 Months in Prison for Swedish Officer’s Murderer Sparks Anger
Success: Nvidia Turned Gaming Chips Into the Engine of the AI Boom
Jorge Messi, Lionel Messi’s Father and Longtime Agent, Dies at 68
AI’s Next Bottleneck Is Power, Not Just Nvidia Chips
Advertising trick: Pepsi’s Harrier Jet Commercial Led to a $700,000 Court Fight
Meta Raises AI Spending Target to as Much as $145bn Despite Pressure Over Returns
Danube Drought Exposes Nazi Wrecks and Pushes Central Europe’s Power System to the Brink
Joe Biden’s Cancer Has Spread Beyond His Bones, Hunter Biden Says
Air Traffic Control Outage Grounded Flights Across the Midwest
Why 2027 Could Be a Strong Year for Stocks—and Why the Forecast Is Fragile
Why Markets May Look Quiet in August After Big Tech Earnings
Australian Crew Evacuates Seriously Ill American From Antarctica in Midwinter Darkness
Trump’s Top General Seeks an Exit Strategy From Iran War, Report Says
Brock Lesnar Retires From Wrestling, Closing a Career of Rare Athletic Range and Lasting Controversy
Trump-Era Policy Shifts Test the Boundaries of U.S. Institutions
UK Drought Cuts Harvests and Raises Food-Security Fears
UFO: Pentagon Releases Video of Unidentified Object Tracked Over Middle East
US Health Secretary: “I’m Not Afraid of Germs — I Used to Snort Cocaine Off Toilet Seats”
Ukraine Tells Senate Republicans Its Drone War Offers a Blueprint for America
Weight-Loss Drug Boom Tests the Limits of Prescription Advertising Rules
Trump Keeps Hegseth at Pentagon While Leaving Door Open for DeSantis
UK Clears Paramount’s Warner Bros. Discovery Deal, but US Trial Looms
UK Prosecutors Add 38 Charges Against Andrew and Tristan Tate
Taiwan’s President Joins Wartime Command Drill as China Pressure Grows
Saudi Arabia, Turkey and Pakistan Sign Mutual-Defence Pact
HMRC’s 2029 Tax Shift Could Overlap Old and New Self-Assessment Bills
Thetford Disorder Prompts Expanded Police Powers Amid Asylum-Housing Protests
Cambridge Faces Calls for Independent Review of Jason Arday Appointment
Scotland’s ‘Cock of the North’ Woodland Is Being Felled After Wind Damage
Reform UK and Greens Unite Against Vast Solar Plans for Kent Marshland
New Zealand Draws Wealthy Americans With Revamped Investor Visa
Senate Panel Votes to Hold Anthony Fauci in Contempt After Fifth Amendment Testimony
Cambridge Professor Jason Arday Resigns as University Opens Inquiry Into His Credentials
Manchester Power Failure Disrupts Trains Across North West Into Friday
Lightning Strike Kills Yala FC Player During Match in Southern Thailand
Senate Scrutinises AI-Driven Personalised Pricing
Spain Seeks Mainland Transfers for 1,100 Children Stranded in Ceuta
Spain and Morocco Trade Blame After 72,000 Migrants Enter Ceuta
Met Police Investigated Journalist Who Questioned Cambridge Professor
Badenoch Defends Tory Candidate Jailed for Antisemitic Abuse of Luciana Berger
NHS Spends £240m a Year Storing Paper Records Despite Digital Push
Apple Seeks Court Order to Stop OpenAI Using Alleged Trade Secrets
Breaking With the Past: One of the World’s Smallest Countries Changes Its Name
AI Is Remaking the US Economy, From GDP Growth to iPhone Prices
×