Secret Service Seize $102M Crypto Assets

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Secret Service seizes more than $102 million in crypto assets.

The U.S. Secret Service has seized more than $102 million in illicit digital currencies since 2015.

In an interview, the head of the agency's investigations office says cracking a crypto case is often like a "house of mirrors."

Investigators are finding thieves will transfer stolen bitcoin and other digital currencies into stablecoins.

David Smith, assistant director of investigations, said agents and analysts actively track the flow of bitcoin and other cryptocurrencies on the blockchain, similar to an old-fashioned surveillance.

"When you follow a digital currency wallet, it's no different than an email address that has some correlating identifiers," Smith said in an interview at the agency's headquarters.

"And once a person and another person make a transaction, and that gets into the blockchain, we have the ability to follow that email address or wallet address.

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