BTC
$108,809.97
+
0.88%
ETH
$2,576.66
+
2.75%
USDT
$1.0001
–
0.00%
XRP
$2.2695
+
0.69%
BNB
$662.93
+
1.35%
SOL
$152.42
+
3.72%
USDC
$0.9999
+
0.01%
TRX
$0.2863
+
0.64%
DOGE
$0.1718
+
5.15%
ADA
$0.5864
+
2.18%
HYPE
$39.73
+
2.50%
SUI
$2.9103
+
0.90%
BCH
$494.77
+
1.82%
WBT
$44.56
–
1.07%
LINK
$13.59
+
3.44%
LEO
$9.0401
+
0.42%
AVAX
$18.22
+
2.52%
XLM
$0.2483
+
3.46%
SHIB
$0.0₄1174
+
2.32%
TON
$2.7848
–
6.63%
By Jamie Crawley, AI Boost|Edited by Sheldon Reback
Updated Jul 7, 2025, 8:43 a.m. Published Jul 7, 2025, 8:29 a.m.
- The U.S. Secret Service has emerged as a major force in the fight against cryptocurrency crime.
- Through its Global Investigative Operations Center, the agency has seized nearly $400 million in digital assets over the past decade.
- The GIOC uses open-source tools, subpoenas and blockchain analysis to trace stolen funds.
The U.S. Secret Service, better known for protecting American presidents, has emerged as a major force in the fight against cryptocurrency crime, Bloomberg reported on Saturday.
Through its Global Investigative Operations Center (GIOC), the agency has seized nearly $400 million in digital assets over the past decade. Much of that sits in a single cold wallet that is now among the most valuable globally.
STORY CONTINUES BELOW
With digital fraud driving a majority of internet crime in the U.S., losses tied to crypto scams reached $9.3 billion in 2024, FBI data show. Investment frauds, fake platforms and extortion schemes disproportionately affect older victims, who lost nearly $2.8 billion last year. The GIOC uses open-source tools, subpoenas and blockchain analysis to trace stolen funds.
Led by attorney Kali Smith, the unit trains law enforcement globally, targeting jurisdictions vulnerable to lax oversight. A recent workshop in Bermuda underscored the risks facing crypto-friendly regions. Industry partners like Coinbase and Tether have assisted in large-scale recoveries, including $225 million in USDT tied to romance-investment scams.
“This training is part of our mission,” said Patrick Freaney, head of the New York field office. “We’ve been following the money for 160 years.”
CORRECT (July 7, 08:43 UTC): Corrects that the Bloomberg report was published on Saturday, not Monday.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
