A new task force has been created by the U.S. government to target crypto crime, comprising of five investigators from various federal agencies. The “Darknet Marketplace and Digital Currency Crimes Task Force” was established on June 15 with the aim of disrupting and dismantling criminal organizations that use digital currencies to facilitate drug trafficking, money laundering, and other illegal activities under the guise of anonymity. The task force will initially operate in Arizona only. According to a press release from the U.S. Immigration and Customs Enforcement website on Tuesday, law enforcement tools, resources, and intelligence have had to adapt as criminal activities have become more sophisticated.The crossover involves personnel from various law enforcement agencies, including the DHS, IRS-CI, DEA, DOJ, and USPS. These agencies have conducted numerous criminal investigations related to cryptocurrency, which is increasingly being used to circumvent traditional financial regulations.In 2018, Bitfinex suffered a theft of $3.6 billion in Bitcoin, which was later recovered by the DOJ in its largest financial seizure to date. The department also seized 50,000 Bitcoin linked to Silk Road, a darknet marketplace that facilitated illegal transactions using Bitcoin. The DEA and IRS-CI are increasing their efforts to target darknet and cryptocurrency crimes. While the amount of money stolen through cryptocurrency-related crimes is increasing, its share of total crypto-related transactions is decreasing. The US Treasury Department has confirmed that digital assets are still used less for money laundering than fiat currency but has highlighted national security risks related to the DeFi ecosystem. This can be exploited by thieves and ransomware actors to launder their proceeds.