Coinbase: Assisted the US Secret Service in seizing $225 million stolen cryptocurrency
2025-06-24 22:49:56
Coinbase has announced a "pivotal role" in assisting the US Secret Service in tracking down and seizing $225 million in stolen cryptocurrency. The case, which dates back as far as 2023, is linked to a human trafficking ring suspected of carrying out a "romance scam". Coinbase uses on-chain tracing technology to identify where money is going and help identify victims who can be compensated. The seizure is the largest cryptocurrency seizure in the history of the US Secret Service. Tether has previously frozen the related $225 million USDT and said it has cumulatively frozen $2.70 billion in funds related to criminal activities. The Department of Justice is grateful for this cooperation.
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