Secret Service Seizes $400M in Crypto, Builds One of World’s Largest Wallets
The US Secret Service has seized nearly $400 million in digital assets over the past decade, creating one of the largest crypto cold wallets globally. The agency's Global Investigative Operations Center (GIOC) employs open-source tools and blockchain analysis to track funds, focusing on scams that lure victims into fake investment platforms. Investigators use domain records and blockchain transactions to identify fraudsters, with notable cases involving extortion schemes. The Secret Service has trained officials in over 60 countries to combat online financial crimes, revealing scams like romance-investment schemes. Crypto scams accounted for $9.3 billion in reported losses in 2024, making them the leading cause of internet crime losses in the US. The first half of 2025 saw over $2.47 billion lost to hacks and scams. Recovery of stolen crypto often requires cooperation from industry players like Coinbase and Tether.
