The US Secret Service’s San Francisco Field Office, in collaboration with the Bay Area Regional Enforcement Allied Computer Team (REACT), will be conducting an “Ask Me Anything” (AMA) session on May 15, 2023, at 11 AM on Reddit. The AMA will be hosted by the moderators of the popular cryptocurrency-focused subreddit, CryptoCurrency, which boasts a community of over six million users from around the world.
The moderators of r/CryptoCurrency have confirmed that the US REACT team intends to actively engage with the crypto community. The Secret Service branch emphasized that their mission is to ensure the safety of the cryptocurrency landscape, recognizing its significance as the future of money and a crucial element of the global financial infrastructure, which falls under their mandate to protect.
During the AMA session, REACT will discuss its efforts in combating high-tech crimes, identifying emerging threats, and providing specialized assistance in relevant cases. The team will also share valuable resources and information to help the cryptocurrency community safeguard their funds.
One particular area of concern that REACT has investigated is the “pig butchering” scam, which targets US citizens. Exploiting the unalterable nature of cryptocurrency transactions, fraudsters deceive victims and subsequently drain their funds after gaining their trust. The Federal Bureau of Investigation (FBI) reported that Americans fell victim to pig butchering scams amounting to over USD 420 million in losses in 2021.
The reasons behind REACT’s decision to engage directly with the cryptocurrency community remain unclear. However, this AMA presents a unique opportunity for crypto enthusiasts to learn from law enforcement experts and enhance their awareness of potential risks in the evolving world of digital assets.