US Secret Service quietly becomes a leading crypto cop as Digital Fraud Soars: Bloomberg
The US Secret Service, better known for protecting American presidents, has emerged as a major force in combating cryptocurrency crime, Bloomberg reported on Saturday.
By the Global Investigative Operations Center (GIOC)The agency has taken nearly $ 400 million in digital assets over the past decade. Most of those sitting in a single cold purse that are now among the most important worldwide.
Through digital fraud that drives most of the Crime in the US in the US, losses tied to crypto scams reached $ 9.3 billion in 2024, FBI data show. Investment scams, fake platforms and oppression schemes did not affect older victims, who lost nearly $ 2.8 billion last year. GIOC uses open-source tools, subpoena and blockchain analysis to monitor stolen funds.
Led by Attorney Kali Smith, the unit trains law enforcement worldwide, targeting constituents who are vulnerable to LAX administration. A recent workshop in Bermuda emphasizes the dangers facing crypto -friendly regions. Industry partners such as Coinbase and Tether have helped with major recovery, including $ 225 million in USDT tied to scam-investment scams.
“This training is part of our mission,” said Patrick Freaney, head of the New York Field office. “We have been following the money for 160 years.”
Right (July 7, 08:43 UTC): Corrections that the Bloomberg report was published on Saturday, not Monday.
