Secret Service Owns Crypto and Calls Themselves Enthusiasts

In a recent ask-me-anything (AMA) on the Reddit platform Reddit users have learned that the prestigious United States Secret Service not only owns crypto but also has its own NFT collection. The prestigious organization that protects the President and fights financial crimes answered questions related to cryptocurrency and blockchain.

The organization along with a California criminal task force, expressed their interest and enthusiasm in the blockchain and admitted to creating their own collection of non-fungible tokens.In the conversation, they answered about the advantages of blockchain technology in money tracking, their views on blockchain, and the notable difference between traditional scams and crypto scams.

Secret Services opens up on Crypto and Blockchain

On May 15, the Bay Area Regional Enforcement Allied Computer Team (REACT) and representatives from the United States Secret Service San Francisco Field Office opened up by answering questions from the members of the subreddit r/cryptocurrency.

The REACT team applauded by stating that the public and transparent nature of blockchains is an excellent tool for the regulator to track the flow of money. Despite some regulators still seeing crypto as a hub for fraudsters, it is a great play to track fraudsters.

The immutable nature of the blockchain ledger can easily help detect illegal financial activities, said The Secret Service. They further made their point that with the help of blockchain and its technology, financial activities can be monitored and tracked. Bitfinex, an upcoming Netflix story that features some unlikely criminals, made that point very clear that to launder money using blockchain is very hard.

Secret Service, their love for Crypto, and their NFT collection

The Secret Service, while answering a follow-up question on how to best hide shady behavior in blockchain, said that if people wanted to do shady things financially, they should do it in cash rather than crypto.

While answering another question by a Redditor about whether the Secret Service holds cryptocurrency, the authority replied “Definitely holders of crypto”. They further went on to describe themselves as crypto enthusiasts and said that it helps them to understand the mechanism of cryptocurrency in a better manner.

“Pretty much most cases require a certain level of ELI5’ing. It’s somewhat of a running joke around here”, the agency explained, with the acronym “ELI5” referencing the popular subreddit r/explainlikeimfive.When asked about the difference between crypto crimes and traditional finance, the services revealed that the “vast majority” calls of crimes and reports being reported to their office usually involve crypto from some angle.

The Secret Service said that blockchain investigations differ from fiat investigations in both good and bad ways. They further added that the irreversible and immutable nature of crypto is the major difference between the two.

While the organizations answered a variety of serious issues, there was also some lighthearted fun during the event. When a Redditor questioned if the Secret Service was thinking about developing its own “meme coin,” the agency answered by promoting its own NFT collection on OpenSea.