U.S. Secret Service Recovers $400 Million in Cryptocurrency Assets, Prevents $225 Million USDT Fraud Case

The U.S. Secret Service's GIOC center has recovered nearly $400 million in cryptocurrency assets over the past decade, most of which was stored in a cold wallet. One particular 'pig butchering' scam amounted to $225 million in USDT and has been successfully intercepted.

Investigators utilized blockchain data, VPN vulnerabilities, and other technical means, collaborating with Coinbase and Tether to freeze the related wallets. GIOC has also conducted anti-cryptocurrency crime training in over 60 countries.

In 2024, American citizens lost $9.3 billion due to cryptocurrency fraud.

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