Cryptocurrencies seized in the US may not be safe
An audit carried out by the Office of the Inspector General found certain vulnerabilities in how seized cryptocurrencies are managed
The Office of the Inspector General (OIG) recently conducted an audit on how the United States Marshals Service (USMS) safeguards seized cryptocurrencies, emphasizing the importance of improving ways.
Although the safeguarding by the USMS is being carried out correctly, there is a risk in the way the inventory is made due to the inability of the existing system (Consolidated Asset Tracking System).
According to data presented by the OIG, in 2021 there were about 200 seizures of DOJ cryptocurrencies, which served as examples for the investigation for the challenges presented to the Marshals Service.
“Current USMS seized cryptocurrency management policies are inadequate, non-existent, or in some cases provide conflicting guidance related to asset storage, quantification, valuation, and disposal,” part of the audit reads.
Knowing the intention of the USMS to outsource the management of seized cryptocurrencies, the OIG of the Department of Justice established several recommendations to help improve their management, beginning with the implementation of an asset management system “that records the history edits to prevent fraudulent alteration of inventory records.
K. Tovar
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Source: Cointelegraph
