Cryptocurrencies, blockchain, NFT and new trends

The US Secret Service will hold a Reddit AMA on crypto later today

Legal • May 15, 2023, 6:02AM EDT The Block

Quick Take

  • The U.S. Secret Service and the REACT task force will hold a Reddit AMA at 11 a.m. Pacific time today on the theme of crypto crime.

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The U.S. Secret Service’s San Francisco Field Office will hold an “ask me anything” session on Reddit at 11 a.m. Pacific Time, according to a post on r/cryptocurrency.

It’s not clear why the service wants to hold the AMA now, but the announcement frames the event as being about educating crypto users to keep them safe from crime:

“Here in San Francisco, 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.”

A moderator for the subreddit said they had verified that this was the real Secret Service. “We have verified these accounts belong to the Secret Service via private chat… it represents a valuable piece of community engagement. As the Secret Service are our guests — as usual — we please ask that you are polite and courteous. Thank you!”

The account being used by the service, SF-USSS, also posted a verification photo on the image-sharing site Imgur, which purports to show a service agent standing in the San Francisco field office. The event is being jointly held with the Regional Enforcement Allied Computer Team, which coordinates state and federal law enforcement efforts in technology crime. REACT is using the handle REACT-TF.

Secret service crypto scam warnings

“In the past 12 months, our team has investigated ‘Pig Butchering’ cryptocurrency thefts and we have recovered millions in stolen funds. We want to share resources and tips on how to protect potential victims from cryptocurrency scammers,” the Reddit announcement said.

In a pig butchering scam, a consumer is approached on social media by someone posing as a would-be friend, potential romantic interest, or an employee of a trusted financial institution. As the conversation progresses, the scammer suggests that the victim invest or safeguard their crypto by depositing it on what appears to be a safe platform. Once the wallet is fully funded, the money and the scammer disappear. American consumers lose about $429 million each year to pig butchers.

The Secret Service didn’t immediately respond to a request for comment.