The US Secret Service has quietly seized nearly $400 million in digital assets over the past decade, amassing one of the world's largest crypto cold wallets.
Secret Service Operations
According to Bloomberg, the US Secret Service has focused on tracking cryptocurrency funds using open-source tools and blockchain analysis. Jamie Lam, an investigative analyst with the agency, stated that operations are conducted through the Global Investigative Operations Center.
Methods of Investigating Crypto Crimes
Lam's team uses domain records, blockchain transactions, and VPN mistakes to identify fraudsters. In one instance, investigators traced transactions that led to the arrest of a suspect in the UK.
Crypto Scam Statistics
FBI data reveals that cryptocurrency scams have become the leading cause of internet crime losses, with $9.3 billion reported stolen in 2024. The first half of 2025 has also seen increased losses due to hacks and scams.
The work of the US Secret Service in the realm of crypto crimes highlights the growing threat of fraud in digital spaces and the necessity for international cooperation in tackling this issue.
