Secret Service seizes $400M in crypto, cold wallet among world’s largest
2025-07-06 07:16:50
Main Idea
The US Secret Service has seized nearly $400 million in digital assets, utilizing blockchain analysis and VPN tracking to uncover scams, with a significant portion stored in a single cold-storage wallet.
Key Points
1. The US Secret Service's Global Investigative Operations Center (GIOC) tracked and seized $400 million in digital assets using open-source tools and blockchain analysis.
2. A large portion of the seized crypto is stored in a single cold-storage wallet, making it one of the world's largest.
3. The agency employs techniques like analyzing domain records, blockchain transactions, and VPN failures to trace and expose scams.
4. Scams and hacks resulted in $16.6 billion in internet crime losses in 2024, with a 3% increase in losses ($2.47 billion) in the first half of 2025 compared to the same period in 2024.
5. Coinbase and Tether have assisted in high-profile cases, including recovering $225 million in USDt linked to romance scams.
Description
Secret Service quietly amasses one of the world’s largest crypto cold wallets with $400 million seized, exposing scams through blockchain sleuthing and VPN missteps.
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