Inside the FBI: Crypto, Crime and National Security

With over a decade of experience, James Barnacle (  / james-barnacle-14498ba  ) (Deputy Assistant Director, Federal Bureau of Investigation (FBI) (https://www.fbi.gov/investigate) ) joins Jonathan Levin (  / jonylevin  ) (CEO & Co-founder, Chainalysis (https://www.chainalysis.com/) ) for a deep dive into the nexus of cybercrime, cryptocurrency and the evolving challenges faced by law enforcement. 



James shares insights into the history and progression of the FBI’s strategies in combating cryptocurrency-enabled crimes, shedding light on intricate cases involving ransomware, fraud, and terrorism financing.



This conversation goes in depth on the FBI’s approach to multi-agency cooperation, including the establishment of the Virtual Assets Unit and response teams across field offices and the importance of victim reporting when it comes to pig butchering and other crypto investment schemes.



This is an episode you won’t forget. 

Minute-by-minute episode breakdown


2 | Background of James Barnacle 



4 | Beginning of the FBI's Involvement with Cryptocurrency



7 | The Evolution of Cryptocurrency Use in Criminal Investigations



10 | Establishment of the Virtual Assets Unit in the FBI



14 | FBI’s Approach to Ransomware Investigations



20 | International Private Sector Collaboration and Strategy in Fraud Cases



25 | Addressing Elderly Fraud and Pig Butchering



31 | Impact of Sanctions on Fraud Prevention



37 | North Korea's Involvement in Cryptocurrency Theft



40 | Importance of AI and Machine Learning in Law Enforcement



48 | Encouragement for Public and Private Sector Cooperation



 



Related resources





Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.




• Website: Mission First: To protect the American people and uphold the Constitution of the U.S. (https://www.fbi.gov/)


• Press Release: Ransomware Administrator Charged with Cybercrimes for Deploying “Lockergoga,” “Nefilim,” and “Megacortex” Ransomware Strains Against Hundreds of Victims (https://www.justice.gov/usao-edny/pr/...)


• Report: Operation Level Up: Notifying Victims of Crypto Investment Fraud (https://www.fbi.gov/how-we-can-help-y...)


• Blog: How Chainalysis Helped the FBI Track Down and Freeze Millions in the Caesars Casino Ransomware Attack (https://www.chainalysis.com/blog/chai...)


• Blog:  The 2025 Geography of Crypto Report (https://go.chainalysis.com/2025-geogr...) (Reserve Your Copy Now!)


• Blog: The Venus Protocol Incident: How Hexagate and a Community Stopped a Hack and Enabled a Swift Recovery (https://www.chainalysis.com/blog/hexa...)


• Blog: Seoul Police Crack International Hacking Ring with Chainalysis Solutions (https://www.chainalysis.com/blog/seou...)


• YouTube: Chainalysis YouTube page (   / chainalysis  )


• Twitter: Chainalysis Twitter: Building trust in blockchain (  / chainalysis  )


Speakers on today’s episode



• Jonathan Levin (  / jonylevin  ) (CEO & Co-founder, Chainalysis (https://www.chainalysis.com/) )


• James Barnacle (  / james-barnacle-14498ba  ) (Deputy Assistant Director, Federal Bureau of Investigation (FBI) (https://www.fbi.gov/investigate) )




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