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U.S. Secret Service Team Has Recovered Nearly $400 Million in Crypto From Criminals: Bloomberg

  • Over the last ten years, the US Secret Service has confiscated digital assets valued at close to $400 million from individuals involved in cryptocurrency crimes.
  • This recovery effort follows increasing crypto-related scams, with Americans reporting $9.3 billion out of $16.6 billion in fraud losses in 2024 alone.
  • The agency uses advanced tools and training, conducting workshops in over 60 countries to help law enforcement trace fraud, as exemplified by cases involving extortion and kidnapping.
  • Jamie Lam, a Secret Service analyst, said to Bermuda officials in June, "That's how they do it," highlighting scammers' tactics; Bermuda's governor Andrew Murdoch noted technologies spur growth but also exploitation.
  • These initiatives establish the Secret Service as a leading custodian of cryptocurrency and highlight the critical role of enhanced investigative capabilities and international collaboration in addressing the misuse of emerging financial technologies.
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ainvest.com broke the news in on Saturday, July 5, 2025.
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