The agency has accumulated $400 million in digital assets as part of investigations.
The crypto wallet has become one of the largest cold storage facilities in the world, according to journalists.
The agents track funds using blockchain analysis and VPN.
The U.S. Secret Service has confiscated crypto assets worth about $400 million over the past decade. The seized funds are primarily stored in one cold wallet, which is now among the largest in the world.
The agency's Global Investigations Operations Center (GIOC) uses open blockchain tools, domain registries, and digital footprint analysis to track criminals. One case was solved due to a temporary VPN failure that allowed the tracking of the perpetrator's IP address.
Most cases involve schemes of pseudo-investments in cryptocurrency. Fraudsters convince victims to invest funds by demonstrating fictitious profits. After the criminals gain people's trust, they disappear with their assets.
"They send a beautiful photo, but behind it is an old man from Russia," quipped Secret Service agent Jamie Lamb.
The head of the agency's crypto division, Kali Smith, reported that work is being conducted in dozens of countries, especially in regions with vulnerable regulations and residency purchase schemes. During one operation, a Nigerian accused of sexual extortion was arrested — tracked through a chain of transfers and a teenager recruited as a 'money mule.'
According to the FBI, crypto fraud has become the largest category of internet crimes in the U.S. In 2024, victims reported losses of $9.3 billion — more than half of all reported losses for the year. Since the beginning of 2025, fraud and hacks amounting to $2.47 billion have already been recorded, exceeding the similar figure for the previous year.
Law enforcement noted that the recovery of funds was made possible through partnerships with industry representatives. Companies Coinbase and Tether froze assets and assisted investigators, the U.S. Secret Service emphasized. For example, with the direct involvement of the companies, agents were able to confiscate $225 million in USDT in June.