The San Francisco field office of the U.S. Secret Service and the Regional Law Enforcement Allied Computer Team (REACT) will be in the Bay Area Catch Ask Me Any Session (AMA) on May 15, 2023, starting at 11 a.m. on Reddit, a social media platform.
The host for this special session will be the moderators of the popular CryptoCurrency forum on Reddit, CryptoCurrency. The subreddit has over six million users and is a choice sharing portal for cryptocurrency enthusiasts from all over the world.
The moderators of r/CryptoCurrency confirmed that the US REACT team wants to engage with the community.
As they promote their AMA, the Secret Service branch has said that their mission is to keep the cryptocurrency space safe because the agency also recognizes the importance of crypto as the future of money and the cog in the global financial infrastructure, which it is also mandated to secure.
During the AMA, REACT will share its work while providing resources and information to the cryptocurrency community to keep their funds safe.
REACT deals with high technology crime. Their work includes disrupting criminal networks, picking out emerging threats, and occasionally assisting cases that require special expertise.
The team confirmed that they investigated pig slaughter schemes targeting US citizens.
The scheme is a scam where the fraudster takes advantage of the static nature of cryptocurrency transfers to trick and drain victims after gaining their trust.
According to the FBI, the Americans Lost More than $420 million in pig slaughter scams in 2021.
It is unclear why REACT wants to engage with the cryptocurrency community.
Law enforcement agencies are wary of some cryptocurrencies
However, US regulators have been targeting crypto companies, including exchanges. Multiple actions have been taken against some of the entities, including Binance and Kraken.
Earlier, law enforcement agencies including the Secret Service launched investigations into deep web money laundering activities related to privacy-focused cryptocurrencies such as Monero.
Unlike mainstream currencies such as Bitcoin (BTC), Monero transfers are difficult to track and can be misused by criminals.
Last week, the US Chamber of Commerce issued a statement in support of cryptocurrencies while attacking the Securities and Exchange Commission (SEC) actions against the companies.