Local law enforcement are gaining the tools and expertise necessary to track and seize cryptocurrency.When a California man was scammed out of hundreds of thousands of dollars of cryptocurrency this year by a fake romance, Erin West was able to track and freeze the money.
“Our bread and butter these days really is tracing cryptocurrency, and trying to seize it and trying to get there faster than the bad guys are moving it somewhere where we can’t grab it,” West said. West said her team tracked the victim’s money as it bounced from one digital wallet to another until it ended up at a major cryptocurrency exchange, where it appeared that the scammer was planning to launder the money or cash out. West sent a warrant to the exchange and froze the money, and plans to return it to the victim.
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