U.S. Secret Service Expands Global Crackdown on Crypto Scams

In an increasingly digital world, the United States Secret Service is stepping up its fight against a growing threat: cryptocurrency scams. Through its Global Investigative Operations Center (GIOC), the agency is working with law enforcement agencies in more than 60 countries to crack down on international digital fraud.

These scams often begin in the simplest of ways: an unexpected friendly message, a casual conversation online, or a connection that feels trustworthy. But behind the screen is a sophisticated network of criminals running fake cryptocurrency investment websites that look convincing, complete with polished charts, flashy designs, and even live customer support.

Victims are typically lured in with the promise of quick returns. At first, they see small profits, which builds confidence and encourages them to invest more, sometimes even borrowing money to do so. But eventually, the website stops responding, and the money disappears without a trace.

This is where the GIOC comes in.

The Global Investigative Operations Center was created to help international agencies understand how these scams operate and, more importantly, how to stop them. One recent training session was held in a region known for its crypto-friendly regulations, part of the Secret Service’s ongoing mission to educate and equip global partners.

Jamie Lam, an investigative analyst with the Secret Service, explains that scammers often hide behind fake identities. “They use attractive photos, sometimes stolen from social media or stock images, to lure people in,” Lam says. “But the person behind the image is usually someone completely different, often an older individual in another country.”

Despite the complexity of these scams, the tools used to uncover them are surprisingly straightforward. Investigators trace domain names, monitor cryptocurrency wallet activity, and even track IP addresses, sometimes exposed by simple VPN slip-ups. Lam emphasizes that patience is often the most powerful tool. “It’s not always about high-tech tricks,” she says. “Sometimes, it’s about digging deep and connecting the dots.”

The Secret Service’s efforts highlight the importance of international cooperation in the fight against digital crime. Cryptocurrency, while offering new financial opportunities, has also created new vulnerabilities that scammers are quick to exploit.

By building relationships with law enforcement across borders, the GIOC is helping to close those gaps, empowering officers with the knowledge and tools needed to protect their communities from online fraud.

As cryptocurrency continues to grow in popularity, so does the need for education, awareness, and vigilance. The Secret Service’s work reminds us that behind every flashy website and fake promise is a real person and real consequences.