Secret Service Recovers $400M in Crypto Stashed in One Cold Wallet

TLDR

Table of Contents

Secret Service has seized $400M in crypto from criminals over the past decade.
Largest crypto seizure hit $225M in June 2025, led by GIOC and FBI.
Most seized crypto is stored offline in a secure cold-storage wallet.
GIOC has trained law enforcement in over 60 countries on crypto crimes.

The U.S. Secret Service has recovered nearly $400 million worth of digital assets from criminal groups over the past ten years. According to a Bloomberg report published Saturday, the funds are mostly held in a single cold-storage wallet controlled by the agency.

The recovery was carried out by the Secret Service’s Global Investigative Operations Center (GIOC). This team focuses on identifying, tracking, and seizing cryptocurrency used in illicit activities. Much of the crypto was taken as part of investigations into fraud, scams, and cybercrime. The GIOC worked alongside other federal agencies, including the FBI and the U.S. Attorney’s Office, to execute the seizures.

GIOC’s work also reflects the Secret Service’s original mission under the U.S. Treasury Department. It was created in the 1800s to stop the production of counterfeit money. The agency has since adapted to address digital financial threats involving cryptocurrencies.

$225 Million Seizure Marks Largest in Team’s History

In June 2025, the Secret Service and federal partners filed to seize $225 million in digital assets from various targets. This marked the largest single seizure ever made by the GIOC team. The investigation involved close cooperation with the FBI and the U.S. Attorney’s Office, according to officials briefed on the matter.

This seizure is part of a growing list of operations aimed at disrupting cybercriminals using digital assets to launder funds or commit fraud. Bloomberg reported that the $225 million seizure helped push the total amount recovered by the team to around $400 million.

Most of the seized assets are held offline, in what is known as a cold-storage wallet. This storage method is not connected to the internet, which helps prevent theft and unauthorized access.

International Cooperation and Training Programs

In addition to its domestic efforts, the GIOC has expanded its operations globally by offering free crypto crime training sessions. According to Bloomberg, the Secret Service has conducted week-long training programs in over 60 countries in the past few years. These sessions help foreign law enforcement learn how to identify and respond to crypto-related crimes.

“Sometimes after just a week-long training, they can be like, ‘Wow, we didn’t even realize that this is occurring in our country,’” Kali Smith, who leads the Secret Service’s cryptocurrency strategy, told Bloomberg.

The agency says these efforts are designed to strengthen international cooperation. Law enforcement agencies that understand digital threats can take faster action against scams and crypto misuse in their own regions.

Private Sector Partnerships Support Recovery Efforts

The Secret Service’s crypto recovery efforts have also been supported by major private sector players. Coinbase has previously said it helps law enforcement track and monitor crypto transactions tied to illegal activities. Tether also confirmed in December 2023 that it had onboarded the FBI and the Secret Service to its platform.

These partnerships give federal agencies greater visibility into blockchain activity and make it easier to freeze or recover assets during criminal investigations. Working with regulated platforms also helps law enforcement navigate the complex global landscape of digital currency use.

The GIOC team continues to identify new threats and targets as crypto use grows. The $400 million held in cold storage stands as one of the largest examples of government-controlled digital assets obtained through enforcement actions.

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