ED Texas Launches Investigation Into Crypto Money Laundering
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ED Texas Launched Multi-Year Investigation
The multi-year investigation, known as Operation Crypto Runner, was carried out by the East Texas divisions of the Department of Justice (DOJ), the U.S. Secret Service (USSS), and the Postal Inspection Service (PIS), which is the legal department of the US postal service.
A press statement released Wednesday stated that the investigation had interrupted more than $300 million in yearly money laundering operations, recovered and confiscated millions in cash and cryptocurrencies, and identified hundreds of victims.
Significant Role of Operation Crypto Runner
According to the prosecution, each of the 21 people apprehended by Operation Crypto Runner played a crucial part in international fraud and criminal enterprises, functioning as local money launderers for their abroad collaborators.
William Smarr, special agent in charge of the Dallas field office of the U.S. Secret Service, was quoted in the press release as saying that the development shows the effectiveness of the combined efforts via Operation Crypto Runner to deconstruct and disrupt international crypto money laundering networks. Additionally, it showcases the investigative skills of the Secret Service.