Saudi Press

Saudi Arabia and the world
Thursday, Nov 27, 2025

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

Saudi Press
0:00
0:00
Close
Saudi Arabia’s SAMAI Initiative Surpasses One-Million-Citizen Milestone in National AI Upskilling Drive
Saudi Arabia’s Specialty Coffee Market Set to Surge as Demand Soars and New Exhibition Drops in December
Saudi Arabia Moves to Open Two New Alcohol Stores for Foreigners Under Vision 2030 Reform
Saudi Arabia’s AI Ambitions Gain Momentum — but Water, Talent and Infrastructure Pose Major Hurdles
Tensions Surface in Trump-MBS Talks as Saudi Pushes Back on Israel Normalisation
Saudi Arabia Signals Major Maritime Crack-Down on Houthi Routes in Red Sea
Italy and Saudi Arabia Seal Over 20 Strategic Deals at Business Forum in Riyadh
COP30 Ends Without Fossil Fuel Phase-Out as US, Saudi Arabia and Russia Align in Obstruction Role
Saudi-Portuguese Economic Horizons Expand Through Strategic Business Council
DHL Commits $150 Million for Landmark Logistics Hub in Saudi Arabia
Saudi Aramco Weighs Disposals Amid $10 Billion-Plus Asset Sales Discussion
Trump Hosts Saudi Crown Prince for Major Defence and Investment Agreements
Families Accuse OpenAI of Enabling ‘AI-Driven Delusions’ After Multiple Suicides
Riyadh Metro Records Over One Hundred Million Journeys as Saudi Capital Accelerates Transit Era
Trump’s Grand Saudi Welcome Highlights U.S.–Riyadh Pivot as Israel Watches Warily
U.S. Set to Sell F-35 Jets to Saudi Arabia in Major Strategic Shift
Saudi Arabia Doubles Down on U.S. Partnership in Strategic Move
Saudi Arabia Charts Tech and Nuclear Leap Under Crown Prince’s U.S. Visit
Trump Elevates Saudi Arabia to Major Non-NATO Ally Amid Defense Deal
Trump Elevates Saudi Arabia to Major Non-NATO Ally as MBS Visit Yields Deepened Ties
Iran Appeals to Saudi Arabia to Mediate Restart of U.S. Nuclear Talks
Musk, Barra and Ford Join Trump in Lavish White House Dinner for Saudi Crown Prince
Lawmaker Seeks Declassification of ‘Shocking’ 2019 Call Between Trump and Saudi Crown Prince
US and Saudi Arabia Forge Strategic Defence Pact Featuring F-35 Sale and $1 Trillion Investment Pledge
Saudi Sovereign Wealth Fund Emerges as Key Contender in Warner Bros. Discovery Sale
Trump Secures Sweeping U.S.–Saudi Agreements on Jets, Technology and Massive Investment
Detroit CEOs Join White House Dinner as U.S.–Saudi Auto Deal Accelerates
Netanyahu Secures U.S. Assurance That Israel’s Qualitative Military Edge Will Remain Despite Saudi F-35 Deal
Ronaldo Joins Trump and Saudi Crown Prince’s Gala Amid U.S.–Gulf Tech and Investment Surge
U.S.–Saudi Investment Forum Sees U.S. Corporate Titans and Saudi Royalty Forge Billion-Dollar Ties
Elon Musk’s xAI to Deploy 500-Megawatt Saudi Data Centre with State-backed Partner HUMAIN
U.S. Clears Export of Advanced AI Chips to Saudi Arabia and UAE Amid Strategic Tech Partnership
xAI Selects Saudi Data-Centre as First Customer of Nvidia-Backed Humain Project
A Decade of Innovation Stagnation at Apple: The Cook Era Critique
President Trump Hosts Saudi Crown Prince Mohammed bin Salman in Washington Amid Strategic Deal Talks
Saudi Crown Prince to Press Trump for Direct U.S. Role in Ending Sudan War
Trump Hosts Saudi Crown Prince: Five Key Takeaways from the White House Meeting
Trump Firmly Defends Saudi Crown Prince Over Khashoggi Murder Amid Washington Visit
Trump Backs Saudi Crown Prince Over Khashoggi Killing Amid White House Visit
Trump Publicly Defends Saudi Crown Prince Over Khashoggi Killing During Washington Visit
President Donald Trump Hosts Saudi Crown Prince Mohammed bin Salman at White House to Seal Major Defence and Investment Deals
Saudi Arabia’s Solar Surge Signals Unlikely Shift in Global Oil Powerhouse
Saudi Crown Prince Receives Letter from Iranian President Ahead of U.S. Visit
Saudi Arabia’s Crown Prince Begins Washington Visit to Cement Long-Term U.S. Alliance
Saudi Crown Prince Meets Trump in Washington to Deepen Defence, AI and Nuclear Ties
Saudi Arabia Accelerates Global Mining Strategy to Build a New Economic Pillar
Crown Prince Mohammed bin Salman Arrives in Washington to Reset U.S.–Saudi Strategic Alliance
Saudi-Israeli Normalisation Deal Looms, But Riyadh Insists on Proceeding After Israeli Elections
Saudis Prioritise US Defence Pact and AI Deals, While Israel Normalisation Takes Back Seat
Saudi Crown Prince’s Washington Visit Aims to Advance Defence, AI and Nuclear Cooperation
×