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Legislation Targeting Crypto Crime: A New Approach to Digital Asset Protection

Legislation Targeting Crypto Crime: A New Approach to Digital Asset Protection

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by Giorgi Kostiuk

an hour ago


U.S. Representative David Schweikert has introduced H.R. 4988, reviving the historical practice of 'letters of marque and reprisal' as it applies to modern cyber threats.

Introduction to H.R. 4988

H.R. 4988 proposes a new interpretation of an old practice, allowing private individuals and companies to participate in the recovery of stolen digital assets and combat hacker groups. According to Schweikert, this is essential for protecting American interests from digital threats.

Context of Rising Cybercrime

The proposed bill comes amid a sharp rise in cybercrime, with record thefts reported in 2025. The North Korean Lazarus Group has been linked to a $1.5 billion hack of Bybit. Traditional law enforcement methods have shown inadequate effectiveness in these situations.

New Opportunities and Risks for the Private Sector

H.R. 4988 could set a precedent for involving private operators in the fight against cybercrime. However, engaging private individuals in such operations raises questions about accountability and potential risks. Schweikert hopes that this measure will help regain control over the situation in the 'digital battlefield.'

H.R. 4988 represents an attempt to adapt law enforcement practices to the challenges of modern cybercrime. If passed, it could significantly reshape the U.S. approach to digital threats.

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