🔹 For the first time in history, the U.S. Secret Service has publicly disclosed details of its global effort to fight cryptocurrency scams. According to their findings, the agency has seized nearly $400 million in digital assets over the past decade, mainly from sophisticated fraud rings using fake investment platforms.

🔹 At the center of these operations is the Global Investigative Operations Center, which tracks digital crime using advanced software, domain tracing, and patient analysis – without weapons or badges. Chief analyst Jamie Lam explained at a recent Bermuda meeting:

"They’ll send you a picture of a young investor, but behind it may be an old man in Russia."

How These Crypto Scams Work

The schemes are calculated: they start by offering victims small profits to build trust, only to disappear once larger sums are invested.

“People think they’re safe using Bitcoin, but that’s simply not true,” warned agent Smith during a training session for officials in Bermuda.

He pointed out that victims often see what appears to be a golden opportunity and don’t realize they’re falling into a trap.

Support from Coinbase and Tether – Seniors Lose Billions

Crypto scams have now become a major part of online crime. According to the FBI, $9.3 billion of the $16.6 billion in reported U.S. internet crimes in 2024 involved crypto. The most impacted group were seniors, who lost $2.8 billion – mostly through fake investment websites.

Fortunately, there have been successful recoveries. In one case, the Secret Service worked with Coinbase and Tether to recover $225 million in USDT, marking one of the largest fund recoveries in crypto history.

Strong Technology Requires Strong Investigations

Bermuda Governor Andrew Murdoch stated:

“Technology is a powerful engine of economic growth, but it’s also highly vulnerable to abuse. We need strong investigative tools to match the sophistication of digital criminals.”




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