U.S. Secret Service Seizes Record $225.3 Million in Cryptocurrency

The U.S. Secret Service has made history with its largest-ever cryptocurrency seizure, amounting to $225 million. This significant operation was facilitated through the use of blockchain forensics and the cooperation of Tether, a prominent stablecoin. The seized assets primarily consisted of Tether (USDT), underscoring the growing role of stablecoins in financial investigations.

Tether announced on June 18 that the United States Department of Justice (DOJ) has recognized its cooperation in a significant enforcement operation involving the seizure of approximately $225 million in USDT. The funds were tied to a large-scale “pig butchering” fraud scheme that targeted victims across various jurisdictions. This acknowledgment highlights Tether’s growing role in combating illicit activity within the digital asset space.

In its continued efforts to set industry standards in compliance, transparency, and crime prevention, Tether stated that it has frozen and blocked over $2.7 billion in USDT connected to illicit activity. This was achieved through real-time tracking, advanced analytics, and direct collaboration with over 255 law enforcement agencies across more than 55 countries. The company’s collaboration with the DOJ in this case involved identifying and facilitating the seizure of assets derived from the pig butchering scheme. Tether emphasized its proactive engagement with law enforcement and the protection of users across the digital asset ecosystem.

Special Agent in Charge Shawn Bradstreet of the U.S. Secret Service San Francisco Field Office stated that this seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service (USSS) history. This latest seizure is one of several enforcement actions supported by Tether in recent years. In March 2025, Tether assisted the U.S. Secret Service in freezing $23 million in USDT tied to the sanctioned exchange Garantex. Additionally, it worked with Tron, TRM Labs, and Spanish authorities to freeze over $100 million in illegal funds. In 2024, the company supported the Ontario Provincial Police in recovering stolen digital assets and aided the DOJ in freezing over $6 million associated with a Southeast Asia-based criminal network and other fraud schemes.

The seizure was the result of a civil forfeiture action initiated by federal prosecutors. This action underscores the increasing sophistication of law enforcement agencies in tracking and seizing digital assets. The operation involved tracing assets through blockchain forensics, a method that allows investigators to follow the movement of cryptocurrencies across the blockchain network. Tether's cooperation was crucial in this process, as it provided the necessary information to identify and locate the seized assets.

The operation is part of a broader effort by U.S. authorities to combat financial crimes involving cryptocurrencies. The use of stablecoins like Tether has become increasingly common in illicit activities due to their stability and ease of use. This seizure serves as a warning to those involved in such activities, demonstrating the capabilities of law enforcement in tracking and seizing digital assets.

The success of this operation also highlights the importance of collaboration between different law enforcement agencies and private entities. The cooperation between the Secret Service, the FBI, and Tether was instrumental in the successful seizure of the assets. This collaboration is likely to continue as authorities seek to stay ahead of the evolving landscape of digital currencies and financial crimes.

The seizure of $225 million in cryptocurrency is a significant milestone in the fight against financial crimes involving digital assets. It demonstrates the effectiveness of blockchain forensics and the importance of cooperation between law enforcement agencies and private entities. As the use of cryptocurrencies continues to grow, so too will the need for sophisticated methods of tracking and seizing digital assets. This operation serves as a reminder of the capabilities of law enforcement in this area and the importance of staying vigilant against financial crimes.