ZachXBT, a blockchain expert, claims that the IRS Criminal Investigation Unit is quietly pressuring him to assist with ongoing blockchain concerns. ZachXBT claims that an ordinary IRS agent has gone so far as to search down former addresses and contact him by email and his previous email accounts, compromising his privacy.
Such charges arose after ZachXBT’s CEO was said to have refused to assist Complex (SIMPLE) memecoin holders, who had threatened to shut down on April 4. He claimed a wish to aid individuals skilled in meme coins while also protecting victims of traditional investing. However, the Internal Revenue Service has developed partnerships to improve blockchain tracing.
Jim Lee, head of the IRS’s Criminal Investigations civil unit, defined the unit’s role in pursuing cryptocurrency-related crimes following their May 2023 agreement with blockchain firm Chainalysis. Lee emphasized the importance of the combined efforts, claiming that the IRS-CI has seized nearly $10 billion in bitcoin since moving its focus to the subject.