The U.S. Secret Service is well-known for protecting the country's financial infrastructure and for taking action when last year achieved a record for crypto hacks. In order to raise public awareness about the importance of tracking criminal activities in cryptocurrency, the Secret Service organized a two-hour “Ask Me Anything” session in Reddit, in which two sections of the agency - the Secret Service’s San Francisco Field Office and Bay Area Regional Enforcement Allied Computer Team- gave advice and directions about the ways of solving crypto crimes.

According to their views, the blockchain provides a “amazing opportunity” to track the flow of money. However, despite the cryptocurrency’s fame, the portion of money laundering done in crypto is smaller than the money laundering that happens in fiat currency, reported by the U.S. Treasury Department. The agency also highlighted that it is possible to recover funds and return them to victims, noting that it has returned stolen crypto to 17 victims in the last nine months.

The officials gave some directions, remarkable the advice of using cash in order to keep financial transactions hidden from law enforcement. They also provided insight into "pig butchering" scams that are currently taking place and other information such as their NFT collection, their reading of the Bitcoin white paper, or their ability to monitor crypto as robustly as it does traditional finance.

The “Ask Me Anything” session in Reddit, organized by the U.S. Secret Service, is an example of how public organizations are stepping up against crypto crimes. As affirmed by the agency, in order for real progress to be made, it’s important to report any case of things gone wrong to the proper channel – in this case, the Internet Crime Complaint Center. In addition, learning and cultivating a greater understanding of various digital assets can help to keep safe transactions on the blockchain.



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