The Secret Service has seized millions in cryptocurrency from criminals since 2015, reports say.
The agency used identifiers in popular forms of cryptocurrency to trace illicit activity and recouped more than $102 million in fraud-related crypto investigations spanning 254 cases, according to a report from CNBC.“One of the things about cryptocurrency is it moves money at a faster pace than the traditional format,” David Smith, assistant director of investigations, told the outlet. “What criminals want to do is sort of muddy the waters and make efforts to obfuscate their activities.
The Secret Service was originally established in 1865 to protect U.S. currency from counterfeit operations, which were widespread at the time, according to the agency. An estimated one-third of the currency was believed to be counterfeit following the Civil War, posing risks to the country's financial system.
"We protect our nation’s highest elected leaders, visiting foreign heads of state, and national special security events; and safeguard the U.S. financial infrastructure and payment systems," the agency says on its website.CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
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