The US Secret Service has seized nearly $400 million in digital assets over the past decade, creating one of the world's largest crypto cold wallets. This operation, primarily conducted by the agency's Global Investigative Operations Center (GIOC), has uncovered numerous scams using blockchain analysis and other investigatory tools. These scams often involve fraudulent crypto investment platforms that lure victims, leading to significant financial losses. Jamie Lam, an investigative analyst, highlighted the common tactic used by scammers, where attractive false personas are presented to potential victims. The agency's team also investigates cases of extortion, such as a recent case involving a teenager in Idaho. In this case, payments to the scammer were traced through another coerced individual, ultimately leading to the arrest of a suspect in England. Overall, crypto-related scams have become the leading cause of internet crime losses in the US, with millions reported stolen annually. The first half of 2025 has seen a continuing rise in reported losses in this area, highlighting the growing need for vigilance and effective crime-fighting strategies.

Source 🔗