• The Secret Service teamed up with REACT Task Force to answer crypto-related questions from Reddit users
  • The representatives said they are constantly working to prevent cryptocurrency scams
  • They advised people to contact law enforcement when they suspect fraudulent activity

The U.S. Secret Service representatives conducted an AMA (ask-me-anything) session on Reddit and revealed that they own crypto and that the federal agency also has its own NFT collection.

The San Francisco Secret Service chapter teamed up with REACT, the agency's San Francisco-based Regional Enforcement Allied Computer Team, to answer a flurry of crypto-related questions from Reddit users earlier this week, according to Cryptonews.

"We have a squad dedicated to keeping cryptocurrency and its users safe. We are comprised of Special Agents and Analysts who have embraced the future of money, and we're eager to share our work with this cryptocurrency community and provide resources and education to help keep your money safe. We're also eager to learn from you," the Secret Service agents said as they opened the Reddit stage up for questions.

When asked whether they hold cryptocurrencies, the agents answered: "We're definitely hodlers [sic] of crypto. Sometimes to understand the mechanics of particular assets or blockchains you have to get hands on and perform some of your own transactions."

The representatives from the Secret Service and REACT also spoke about the expanding world of crypto and said they are constantly working to prevent scams.

The REACT task force, which describes itself as a multi-jurisdictional team focused on investigating high-tech crimes, said it investigated "Pig Butchering" cryptocurrency thefts and recovered millions in stolen funds in the past year.

The Secret Service representatives explained that their investigations frequently lead them to find overseas suspects. The "upside" is that the federal agency can still recover cryptocurrency even if it's overseas.

"That's the beauty of working with international crypto exchanges who will accept search warrants and turn over stolen assets," they added.

REACT also noted that "blockchain provides us with an amazing opportunity to track the flow of money. It's a continuous ledger that is unchangeable and transparent."

One Reddit user asked the representatives from the Secret Service and REACT what a good day for them looks like.

"A good day can look a few ways. One is happening here- educating to help prevent future victims. Another is any time we're giving victims back their hard earned money. We're also always looking to hold people accountable for cyber/financial crimes," the Secret Service agents wrote during the AMA.

"A great day for us is one where we are able to locate stolen assets on the blockchain and freeze them until we are able to serve the exchange with a search warrant authorizing seizure," REACT responded. "An incredible day is the day that we are able to return those assets to the victim."

As the representatives tried to educate users on scams, they also advised people to contact law enforcement agencies immediately when they suspect fraudulent activity.

"Once you realize you're involved in a scam, stop all communication and don't send any more crypto. Gather the transaction details and communications with the suspect and report them to your local law enforcement, and," the Secret Service agents wrote.

One user joked about the Secret Service launching a meme coin. The representatives responded by linking the agency's own nine-piece NFT collection featuring faceless agents on OpenSea.

banks vs crypto
banks vs crypto