Lilita Infante, the former U.S. Special Agent of Department of Justice (DOJ) raises $4.3 million to establish her very own agency to combat crypto crimes on Wednesday 3 months after launching the project. This funding round was led by prominent investors such as Nic Carter’s Castle Island Ventures, Brevan Howard Digital, CMT Digital, and RW3 Ventures. This new venture has already been in action as it was a part of the incident report team for the February hack of MyAlgo.com.

During Infante's tenure in DOJ, she was the leader of the task force that brought down the world's most notable darknet market, Hydra. This marketplace was deemed largest and longest-running darknet market in the world, and has laundered millions of worth of cryptocurrency. Authorities were able to seize $25.3 million of Bitcoin from the marketplace's wallets during their raid.

The goal of this new agency, CAT Labs, is to fill in the technological gaps in investigative technology in law enforcement, bringing more efficiency in tagging and preventing cyber crimes. President of this new venture, Infante, stated that crypto has made it easier to monetize hacks, scams, and frauds. According to a Technext report, an estimated amount of $452 million in digital assets have been lost to crypto crimes in 2020 alone, which only justifies the urgency of this new endeavor.

CAT Labs is looking to work with the U.S. Government to recover assets lost to crypto crimes. With the help of this agency and the advanced set of investigators and technology, both government, and society will be able to benefit strategically and economically to abridge the rising issue of cyber crimes in the world, especially in the crypto environment.



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