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Coinbase Assists Secret Service in Record $225M Crypto Seizure Linked to Fraud

  • The U.S. Secret Service, FBI, and U.S. Attorney’s Office collaborated in a record $225M crypto seizure related to a fraud investigation.
  • The frozen funds were linked to a human trafficking network engaged in a 'pig butchering' romance scam.
  • Coinbase assisted investigators in tracking the stolen funds and identifying eligible victims for restitution.
  • Special Agent Shawn Bradstreet praised the operation as the largest cryptocurrency seizure in U.S. Secret Service history.
  • The Department of Justice also credited Tether for its cooperation in freezing the illegal funds and facilitating the seizure.
  • The operation emphasizes the role of public-private partnerships in combating crypto-enabled financial crimes.
  • The seizure signifies progress in U.S. law enforcement's fight against organized crypto fraud and human trafficking using digital assets.

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