US Secret Service confiscated $102 million worth of cryptocurrency

According to statistics compiled by the agency, there have been 254 seizures of digital assets in 7 years

20.04.2022 - 12:35

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1 min

What’s new? Since 2015, the US Secret Service has confiscated $102 million worth of cryptocurrency in international operations targeting cybercrimes. According to statistics compiled by the agency, there have been 254 seizures in 7 years. David Smith, the service’s assistant director of investigations, revealed this in an interview with CNBC.

CNBC’s material

What else did David Smith say? Agent Smith said that tracking a digital wallet is not much different from tracking an email address. He explained that when someone conducts a transaction using a crypto wallet, it becomes possible to detect it by tracing the transaction on the blockchain. Smith said criminals often try to hide their trail from law enforcement by making as many transfers as possible. He added that stolen digital currencies are often converted into stablecoins to avoid market volatility.

What had happened before? On April 18, the FBI, the Cybersecurity and Infrastructure Security Agency (CISA), and the US Treasury Department issued a joint cybersecurity advisory about the threats of DPRK-sponsored hackers and targeting cryptocurrency theft.

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