Inside the Secret Service’s crypto war

Now armed with medico-legal blockchain instead of cash malformations, American secret services are quietly becoming one of the most sophisticated crime units in the world.

According to BloombergIts global investigative Operations Center seized nearly $ 400 million in digital assets – put in a single cold portfolio – through operations targeting scams, fraud and extortion.

A recent case illustrates the evolutionary scope of the agency: after a teenager was sexual for $ 600, the agents retraced the crypto by a silver mule to a Nigerian national allegedly responsible for thousands of illicit transactions.

The agency, led by investigation analyst Jamie LAM, specializes in digital financial crimes using software, assignments and spreadsheets rather than traditional law application.

The team retraces cryptocurrency fraud thanks to the registrations of the domain, the portfolio connections and the analysis of the blockchain.

Romantic scams stimulate the majority of cryptographic losses

The Americans said $ 9.3 billion in cryptocurrency scams in 2024, representing more than half of the $ 16.6 billion in internet crime loss reported in the FBI. The older victims underwent the most important losses at nearly 2.8 billion dollars, mainly through false investment platforms.

Kali Smith of the Secret Services, which directs the agency’s cryptocurrency strategy, organized training workshops in more than 60 countries to help local police to unmask digital crimes.

“Sometimes after a week training, they can be like,” wow, we did not even realize that this happens in our country “”, said Smith during a recent session of Bermuda training.

Recent cases show the agency’s survey capacities. A teenager from Idaho received requests for sextrusions after sending inappropriate photos online, paying $ 600 before contacting the police.

Secretary service analysts retraced payments through a mule of American money to a Nigerian passport holder who had treated $ 4.1 million in nearly 6,000 transactions.

The British authorities arrested the alleged extorter at landing in England, where he awaits extradition. The case consisted in rebuilding the crime through screenshots, receipts and analysis of blockchain data. He also underlines how the digital detective redefines modern police – and how online exploitation has become a billion dollars.

The secret services collaborate with cryptocurrency companies for the analysis of traces and portfolio freezes. Coinbase and Tether have publicly recognized the help surveys, with a recovery involving $ 225 million in USDT linked to investment scams in romance.

“We have been following the money for 160 years,” said Patrick Franey, head of the agency’s New York field office. “This training is part of this mission.”