Over the past seven years, the US Secret Service has seized over $102 million in digital assets as part of 254 fraud investigations. It is reported by CNBC.

The main tasks of the federal agency are the investigation of fraud, debt obligations, protection of the president and high-ranking officials, as well as various types of financial fraud and cybercrime.

“When you track a cryptocurrency wallet, it’s just like an email address with some identifier. And as soon as the two parties make a transaction, it enters the blockchain and we have the ability to trace that email or wallet address,” said David Smith, the service’s deputy director of investigations.

One of the cases is related to a scam targeting 900 US citizens. The investigation was conducted by Romanian police – the plan included placing fake ads at online auctions and sites selling luxury goods. After the payment was made, the attackers disappeared and the money was laundered via cryptocurrencies.

In August 2020, the US Department of Justice filed a lawsuit for the seizure of cryptocurrency from 280 accounts. According to the department, these are related to attacks by North Korean hackers.

In March 2022, a Massachusetts resident was sentenced to eight years in prison for drug trafficking and approximately $2.3 million worth of cryptocurrencies were seized.

Recall that Chainalysis named darknet markets as the largest source of illicit cryptocurrencies. In 2021, cybercriminals laundered $8.6 billion in digital assets, 30% more than in 2020.