News - U.S. Secret Service owns crypto and NFTs

By Mike Hesp

U.S. Secret Service owns crypto and NFTs

How do you hide financial transactions from law enforcement? The Secret Service has analogous advice: "Use cash instead of crypto."

The Secret Service's San Francisco Field Office answered questions from the r/cryptocurrency subreddit yesterday during a AMA-conferentie. The U.S. Secret Service stressed that the immutability of the blockchain ledger leads to easier monitoring and detection of illegal financial activities. They praised the public and transparent nature of blockchains as a "great opportunity" to track the flow of money.

Accordingly, it is better for people doing financially questionable things to use cash rather than cryptocurrencies, the Secret Service said. Officials went on to explain that the agency "absolutely owns cryptocurrencies."

As a result, the Secret Service also has a own NFT collection, which is already available on OpenSea. The Bitcoin white paper is also "required reading for all new agents on our team," they said. The final piece was a job posting, "Do you want to put your passion for cryptocurrencies or cybersecurity to work? We are hiring 450 dedicated agents this year."

Officials are currently stepping in after cybercriminals stole about $3.8 billion last year - the most successful year ever.

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