Coinbase announced its significant involvement in a US Secret Service investigation that led to the seizure of $225 million associated with cryptocurrency investment scams. On June 18, the Department of Justice initiated the seizure, marking it as the largest in the agency's history, according to Agent Shawn Bradstreet. In a blog post, Coinbase revealed that it collaborated with other exchanges in an 'investigative sprint' to assist the Secret Service in identifying scam victims and analyzing transaction flows. Between February 26 and 29, Coinbase traced millions in crypto transactions to illicit wallets, helping to identify over 130 customers who were unknowingly defrauded, totaling $2.3 million in losses. The Secret Service also linked some frozen funds to 140 accounts on the OKX exchange, many belonging to individuals at scam operations in Southeast Asia. Tether, the stablecoin issuer, played a role by freezing 39 wallet addresses and later burning the tokens, demonstrating how blockchain can enhance transparency in law enforcement. Read more AI-generated news on: https://app.chaingpt.org/news