The US Secret Service has accumulated nearly $400 million in a cold wallet over the past 10 years through seizing coins from various fraud cases and tracking transactions on the blockchain.
The agency's Global Investigative Operations Center used open-source tools and thorough investigations to trace scam proceeds and freeze funds in cold storage wallets linked to illicit activities.
The Secret Service launched a global crackdown on crypto scams, seizing over $400 million and collaborating with 60+ countries and major exchanges to combat rug pulls, phishing schemes, and stolen crypto.
Crypto fraud now ranks as one of the top internet crime losses in the US, with Americans reporting $9.3 billion stolen in crypto scams in 2024. Law enforcement agencies worldwide are receiving training to detect and shut down crypto-related schemes more effectively.