More than $102 million has been seized in cryptocurrencies from people who are involved with ongoing fraud investigations
The Secret Service is known for keeping a close eye on the U.S. President. But they are also involved in financial and cybercrime investigations.
Analysts are reportedly tracking how blockchain currencies are moved around through advanced surveillance systems.
Criminals are reportedly transferring cryptocurrencies like Bitcoin into stablecoins to avoid market volatility.
In one case, a Russian syndicate was targeted for using a crypto platform to launder funds linked to criminals in Russia and North Korea.
It follows an investigation of 254 cases over a seven year period.
Earlier this month, an Irving man, Deependra Bhusal pleaded guilty to conspiracy to commit money laundering in Texas.
Bhusal and his co-conspirators routinely exchanged the criminal proceeds for cryptocurrency.
In 2020, he attempted to exchange approximately $450,000 in criminal proceeds for Bitcoin.
He was sentenced to 46 months in a federal prison.
