With over a decade of experience, James Barnacle (Deputy Assistant Director, Federal Bureau of Investigation (FBI) ) joins Jonathan Levin (CEO & Co-founder, Chainalysis ) 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. Press Release: Ransomware Administrator Charged with Cybercrimes for Deploying “Lockergoga,” “Nefilim,” and “Megacortex” Ransomware Strains Against Hundreds of Victims Report: Operation Level Up: Notifying Victims of Crypto Investment Fraud Blog: How Chainalysis Helped the FBI Track Down and Freeze Millions in the Caesars Casino Ransomware Attack Blog: The 2025 Geography of Crypto Report (Reserve Your Copy Now!) Blog: The Venus Protocol Incident: How Hexagate and a Community Stopped a Hack and Enabled a Swift Recovery Blog: Seoul Police Crack International Hacking Ring with Chainalysis Solutions YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Jonathan Levin (CEO & Co-founder, Chainalysis ) James Barnacle (Deputy Assistant Director, Federal Bureau of Investigation (FBI) ) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.
