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Coinbase: Assisting the U.S. Secret Service in seizing $225 million in stolen Cryptocurrency
Golden Finance reported that Coinbase announced it played a "key role" in assisting the U.S. Secret Service in tracking down and seizing $225 million in stolen Cryptocurrency. The case can be traced back to 2023, involving a human trafficking group suspected of conducting "Pig-butchering scams". Coinbase used on-chain traceability technology to identify the flow of funds and help determine compensable victims. This seizure marks the largest Cryptocurrency confiscation operation in the history of the U.S. Secret Service. Tether had previously frozen the related $225 million USDT, indicating a total freeze of $2.7 billion in funds related to criminal activities. The Department of Justice expressed gratitude for this cooperation.