On June 25, the cryptocurrency trading platform Coinbase stated on Tuesday that it played a "key role" in the U.S. Secret Service's seizure of approximately $225 million in "stolen" crypto assets. This case dates back to 2023. Last week, the U.S. Secret Service, FBI, and the U.S. Attorney's Office jointly filed a seizure request to confiscate approximately $225 million in cryptocurrency from suspected fraudsters.
As early as December 2023, Tether had already frozen approximately $225 million in USDT, which was believed to be stored in self-hosted wallets and allegedly connected to a human trafficking group involved in "pig butchering" romance scams. As one of the largest crypto companies in the United States, Coinbase stated that it assisted in tracking the on-chain flow of these stolen funds and helped identify victims eligible for compensation.
U.S. Secret Service Special Agent in Charge Shawn Bradstreet stated last week that this operation was the "largest cryptocurrency seizure in Secret Service history". The U.S. Department of Justice also thanked Tether for its active cooperation in this investigation.
