- U.S. Secret Service recovers $400 million in crypto, intensifying global crackdown on crypto crime.
- Crypto crimes escalate worldwide, prompting enhanced blockchain surveillance.
As crypto adoption rises worldwide, so do crypto crimes. Law enforcement is now racing to upgrade its digital defenses, and it’s like they’re trying to catch a unicorn with a fishing net. 🦄🎣
Seeing this, the U.S. Secret Service, traditionally known for protecting political leaders, has quietly emerged as a key player in the fight against crypto crime. It’s like they’ve traded in their bulletproof vests for blockchain busters. 🛡️💻
U.S. Secret Service’s pivot into crypto
Per Bloomberg, the Secret Service’s Global Investigative Operations Center (GIOC) has seized nearly $400 million in crypto tied to illicit activity since 2014. That’s more than the budget for a summer blockbuster! 🎬💰
This also includes a high-profile $225 million seizure last month, carried out in coordination with the FBI and the U.S. Attorney’s Office. It’s like a superhero team-up, but with a lot more spreadsheets. 📊🦸♂️
Armed with tools like open-source intelligence, IP tracking, and blockchain forensics, the agency is stepping up efforts to police crypto networks. They’re basically the digital Sherlock Holmes, but with a better sense of humor. 🕵️♂️😂
“We didn’t even realize this is occurring”
One of the oldest tricks still thrives in new packaging: fake investment platforms promising sky-high returns. Victims wire funds chasing instant profits—then watch both the platform and their money disappear. It’s like a digital version of the old shell game, but with more zeros. 🎱💸
The illusion is sophisticated enough to fool entire police units. It’s like they’re trying to catch a ghost in a haunted house. 👻🏠
Remarking on this rise, Kali Smith, the lawyer leading the department’s cryptocurrency strategy, said,
“Sometimes after just a week-long training, they can be like, ‘Wow, we didn’t even realize that this is occurring in our country.”
In fact, just in 2024, people in the U.S. lost $9.3 billion to crypto scams, with seniors making up $2.8 billion of that loss. It’s like a digital version of the three-card monte, but with a lot more heartache. 🎴😢
Moreover, the severity of such crimes has escalated beyond financial loss, with several reports of incidents of physical torture to extract wallet credentials and even abductions targeting the families of young hackers. It’s like a bad episode of a crime drama, but it’s real. 📺🚨
U.S. Secret Service combating crypto crimes
Founded in 1865 to fight post–Civil War counterfeiting, the Secret Service has continually evolved, first tackling credit card fraud, then complex wire schemes, and now crypto crime. They’re like the James Bond of law enforcement, but with a better pension plan. 🕵️♂️ Pension 📈
The Secret Service isn’t going it alone. Several crypto firms have stepped up to freeze suspicious wallets and assist with fund recovery, forging public-private partnerships that have proven essential in intercepting criminal flows. It’s like a digital version of a neighborhood watch, but with a lot more tech. 🏡💻
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2025-07-06 19:08