Feds file to seize $225 million worth of crypto in historic US Secret Service bust

A massive investigation involving the U.S. Secret Service, Federal Bureau of Investigation, and the U.S. Attorney’s Office has resulted in an order to seize roughly $225 million in crypto, the authorities announced jointly on Wednesday.

"This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service history," U.S. Secret Service Special Agent in Charge Shawn Bradstreet said in a statement .

Secret Service and FBI agents utilized "blockchain analysis" to locate the funds connected to illicit activities such as theft, money laundering, and fraud connected to "cryptocurrency confidence scams," according to the statement.

The authorities allege digital wallets holding over $225.3 million in crypto were part of a vast network connected to the fraudulent investment schemes. Hundreds of thousands of blockchain transactions were executed to conceal where the crypto originated.

Federal investigators identified dozens of victims based in the U.S., in addition to more than 400 victims globally. The perpetrators allegedly duped victims into investing capital in crypto scams, which resulted in the loss of millions of dollars, according to the statement.

Crypto-related investment scams have long been an issue plaguing the digital assets industry. Fraud cases involving crypto resulted in losses valued at over $5.8 billion in 2024, according to the FBI Internet Crime Complaint Center.

"Under my leadership, with the support of President Trump and Attorney General Bondi, the U.S. Attorney’s office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams, partnering with law enforcement throughout the country to seize and forfeit stolen funds and rip them from the hands of foreign criminals, all with the eye toward making victims whole," said Jeanine Pirro.

Pirro, a Fox News host, is currently serving as interim U.S. Attorney.