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Assistant Director David Smith USSS Seized Over $102 Million in Crypto since 2015: Official 

Ponzi Scheme

Assistant Director David Smith USSS Seized Over $102 Million in Crypto since 2015: Official 

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The United States Secret Service (USSS) has seized over $102 million in cryptocurrencies during investigations into criminal and fraud cases since 2015, said David Smith, Assistant Director of Investigations. Smith leads the USSS’ global investigative wing with 161 offices and over 3,000 employees. 

To track illicit currency transactions and crackdown on them, US Secret Service agents and analysts monitor the flow of bitcoin and other digital assets on different blockchain networks, he informed. In all, 254 cryptocurrency-related cases were investigated by the agency during the period, the Secret Service Officer told CNBC. 

“When you follow a digital currency wallet, it’s not different than an email address that has some correlating identifiers… And once a person and another person make a transaction, and that gets into the blockchain, we have the ability to follow that email address or wallet address, if you will, and trace it through the blockchain.” 

Fraud With a Crypto Extension

In a case that involved 900 US citizens as victims, Smith’s team of investigators worked with the Romanian Police to deconstruct the fraud. It was a case of some non-existent luxury items being sold on auction and retail sites through fake ads.

On the purchase, fake invoices in the name of reputable companies were delivered to the customers. The money received from the victims was converted into digital assets, Smith explained. It illustrated how…

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