The Global Investigations and Operations Center of the U.S. Secret Service (GIOC) has seized digital assets worth approximately $400 million in recent years, reports Bloomberg citing sources. The majority of the funds are stored in one cold wallet, making it one of the largest in the world.
The crypto fund was formed during investigations. The GIOC tracked funds using blockchain analysis, open-source tools, and other technologies.
Cryptocurrency fraud accounts for a significant portion of the damage from internet crimes in the U.S. In 2024, citizens lost $9.3 billion to scams out of a total damage of $16.6 billion. Seniors were particularly hard hit — their losses reached $2.8 billion, mainly through fake investment platforms.
The scenario is usually the same: the victim is convinced to invest in cryptocurrency through online communication. The initial deposits bring in a small profit, then the client invests a large sum — and the site disappears.
One of the largest seizures by the GIOC is related to such a scheme — $225 million in USDT. Investigators identified the criminals' domain due to a VPN failure. In another case, they uncovered the blackmail of a teenager from Idaho: threatening to spread intimate photos, the perpetrator received $600. The investigation led to an account registered with a Nigerian passport, with over 6000 transactions totaling $4.1 million. The suspect was arrested in the UK.
The GIOC actively collaborates with cryptocurrency companies. Coinbase and Tether confirmed that they assisted the agency — providing data and freezing wallets. In February and March 2024, authorities managed to recover $15.2 million for the victims.
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