Secret Service Seize $102M Crypto Assets

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

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The U.S. Secret Service has seized more than $102 million in illicit digital currencies since 2015. [{ "selector": ".crrjw-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 557px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }, { "selector": ".iouua-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(-26px)", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }, { "selector": ".anwrs-a", "duration": "500ms", "fill": "forwards", "delay": "1500ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": 1} ] }]

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

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

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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. [{ "selector": ".tzjnk-a", "duration": "500ms", "fill": "forwards", "delay": "1750ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": 1} ] }]

"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.

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"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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Secret Service Seize $102M Crypto Assets

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

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.

"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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