US Secret Service Steps In to Track Profits from Rp 770 Billion Scam

Jakarta, CNBC Indonesia - Cryptocurrency companies such as Coinbase and Binance have successfully traced cryptocurrency assets resulting from a scam worth US$45 million (Rp 770 billion). The tracking was conducted in collaboration with law enforcement from the United States and the United Kingdom.

Through a joint investigation with the UK’s National Crime Agency (NCA) and the US Secret Service, the cryptocurrency companies identified 20,000 victims of “approval phishing” scams.

Approval phishing is a scam that lures victims into approving blockchain transactions, allowing criminals to drain the entire contents of their crypto wallets. Typically, malicious links appear through notifications or alerts that seem to come from trusted parties.

They also froze funds worth US$12 million, which are planned to be returned to the scam victims.

“Our global intelligence team worked with several law enforcement agencies and other partners in a sprint centred at the NCA headquarters in London,” said Coinbase. “The goal is simple: identify victims, track funds, and disrupt the infrastructure used for scams as quickly as possible.”

The investigation operation was named “Operation Atlantic.” Other industry partners involved include Chainalysis, Kraken, and Tether.

According to Decrypt, crypto-related scams in the United States throughout 2025 set a new record. Funds worth US$11.4 billion were reported lost, a 22 percent jump from the previous year.

According to the Secret Service, 120 web domains used for the scams were successfully identified. The Secret Service is a US government agency responsible for protecting high-ranking officials, including the president, and safeguarding US currency, including investigations into financial fraud.