US Secret Service Builds International Network to Combat Cryptocurrency Scams
By Myles Miller | July 5, 2025
In an effort to tackle the rising tide of cryptocurrency-related scams, the United States Secret Service is expanding its global investigative reach. The agency is working closely with international partners, providing training and sharing expertise to trace illicit crypto transactions and shut down fraudulent schemes targeting investors worldwide.
The Growing Threat of Crypto Scams
Cryptocurrency scams have proliferated in recent years, exploiting the popularity of digital assets and the relative anonymity they afford. Victims often receive initial contact through direct messages or social media, where fraudsters present themselves as trustworthy individuals. These con artists direct victims to polished, professional-looking investment sites featuring sleek designs, real-time data charts, and responsive customer support mimicking legitimate trading platforms.
In many cases, victims see small, seemingly genuine profits from early deposits, which encourages them to invest larger sums — sometimes even borrowing money. However, these platforms ultimately disappear, leaving account balances wiped out and funds irretrievable.
“That’s how they do it,” said Jamie Lam, an investigative analyst and technical advisor with the US Secret Service. During recent training sessions held last month in Bermuda, Lam explained to local law enforcement officers how such scams typically operate. “They’ll send you a photo of a really good-looking guy or girl. But it’s probably some old guy in Russia.”
International Cooperation and Training
Recognizing the cross-border nature of crypto crimes, the Secret Service is actively building relationships with foreign law enforcement agencies. In June 2025, Jamie Lam led training workshops for police officers and prosecutors in Bermuda, teaching them how to track cryptocurrency flows and identify key digital footprints that criminals leave behind.
These sessions focus on techniques such as blockchain analysis, tracing the movement of stolen assets through complex digital networks, and understanding how scammers mask their true locations and identities. The Secret Service’s initiative aims to empower international partners to disrupt crypto fraud schemes more effectively, fostering a coordinated global response.
A Broader Strategy Against Financial Crime
The Secret Service’s move to strengthen crypto crime investigations is part of a broader strategy to address emerging financial threats. By combining technical expertise, advanced analytics, and international collaboration, the agency intends to stay ahead of increasingly sophisticated cybercriminal networks.
As cryptocurrency becomes an integral part of the financial landscape, law enforcement agencies worldwide face the challenge of adapting to new technologies while safeguarding investors and maintaining trust in digital markets.
Conclusion
With cryptocurrency scams evolving and impacting victims globally, the US Secret Service’s efforts to build an international network and provide hands-on training are critical steps in combating these crimes. By sharing knowledge and resources with international law enforcement, the agency hopes to disrupt fraudsters’ operations and protect consumers from losing their hard-earned money in digital schemes.
For further information about the Secret Service’s initiatives or to report a crypto-related scam, law enforcement and individuals are encouraged to contact relevant authorities promptly.