Secret Service seizes $400M in crypto, fights fraud and uncovers scams using blockchain analysis

The US Secret Service has seized nearly $400 million in digital assets over the past decade, accumulating one of the world’s largest crypto cold wallets. The agency’s Global Investigative Operations Center uses open-source tools and blockchain analysis to track funds and fight crypto crime, uncovering scams and fraudulent schemes.

With the help of domain records, blockchain transactions, and VPN slip-ups, the Secret Service identifies fraudsters and scams. Kali Smith leads a team that trains officials in over 60 countries to combat online financial crimes, focusing on jurisdictions with weak oversight. The agency has uncovered various scams, from romance-investment schemes to sextortion cases.

Crypto-related scams are the top driver of US internet crime losses, with Americans reporting $9.3 billion stolen in 2024. In the first half of 2025, losses due to hacks, scams, and exploits have exceeded $2.47 billion, representing a nearly 3% increase compared to the previous year. Recovering stolen crypto often requires cooperation from industry players.

Read more at Cointelegraph: Secret Service Seizes $400M in Crypto, Builds One of World’s Largest Wallets