Secret Service Leads International Crypto Crime Training Initiative
The U.S. Secret Service is taking a proactive role in the global fight against cryptocurrency fraud by training officials in over 60 countries on how to trace illicit blockchain transactions. The initiative, revealed in a Bloomberg report, highlights how the agency has become a vital player in equipping nations with the skills needed to combat crypto-related financial crimes.
Kali Smith, who heads the Secret Service’s cryptocurrency strategy, explained that the training focuses on jurisdictions with weak regulations or residency-for-sale schemes, which are often exploited by financial criminals. The goal is to give local law enforcement agencies the tools to identify fraudulent patterns hidden within blockchain networks.
Workshops Empower Local Authorities to Trace Illicit Transactions
The program offers free workshops to local police and prosecutors, designed to enhance their ability to recognize and respond to crypto scams. Smith noted that even a single week of training can dramatically change how agencies understand financial crime in their region.
“Sometimes after just a week-long training, they can be like, ‘Wow, we didn’t even realize that this is occurring in our country,’” she said.
One such session in June took place in Bermuda, where Jamie Lam, a Secret Service investigative analyst, guided participants through real-world case studies. Lam demonstrated how investigators could trace wallet activity, IP addresses, and transaction flows using open-source blockchain tools.
Blockchain Analysis Drives High-Value Recoveries
The Secret Service’s training program is backed by a proven track record. Over the past decade, its Global Investigative Operations Center (GIOC) has helped recover nearly $400 million in stolen crypto assets. These funds, often stored in a single cold wallet, were traced using blockchain transparency and technical expertise.
Lam’s team also played a role in historic cyberfinancial investigations, such as the takedowns of Liberty Reserve and E-Gold, establishing the agency’s credibility in tracking digital finance crimes.
$9.3 Billion in U.S. Crypto Crime Losses in 2024 Alone
Crypto fraud is now the most damaging form of internet crime in the U.S., with reported losses hitting $9.3 billion in 2024, according to the FBI. This surge underscores the importance of expanding international efforts to clamp down on illicit blockchain activity.
The Secret Service views blockchain’s public ledger as an asset in fighting fraud, not a hurdle. By teaching other nations to leverage this transparency, the agency is extending its enforcement network beyond U.S. borders.
Secret Service Strategy Promotes Global Accountability
Through its international crypto crime program, the Secret Service is fostering greater accountability in global digital finance. The agency aims to create a ripple effect—empowering nations to regulate their own markets and disrupt criminal operations before they escalate.
Smith believes that by lifting the capabilities of law enforcement worldwide, the program can prevent scams at scale and build trust in the crypto ecosystem.
A Decade of Experience in Cyberfinancial Crime
The Secret Service’s expertise in financial crimes predates the rise of cryptocurrency. With early wins against centralized digital money schemes like Liberty Reserve, the agency has adapted to today’s decentralized and pseudonymous digital asset environment.
Their evolution from targeting centralized systems to tracing blockchain-based assets illustrates a strategic pivot that few agencies have matched.
International Partnerships Strengthen Crypto Regulation
Beyond technical training, the Secret Service’s initiative also builds lasting partnerships. These relationships encourage cross-border cooperation and knowledge sharing, two vital components in combating global cybercrime.
Nations that have participated in the program often begin implementing stricter compliance protocols and develop their own blockchain intelligence divisions.
Scaling the Mission Globally
As blockchain technology continues to grow, so does its misuse. With the success of its initial training programs, the Secret Service plans to scale its initiative even further.
By promoting transparency and helping governments monitor decentralized financial ecosystems, the Secret Service is shaping a safer and more accountable global crypto economy.
