Deltec, a Bahamian bank that provides services to crypto firms, had its funds seized by U.S. authorities in June due to an investigation into international money laundering, wire and bank fraud. According to federal documents unsealed on Monday, the Secret Service executed seizure warrants to confiscate funds from the bank's U.S. accounts.

The investigation was focused on "international criminal money laundering syndicates operating cryptocurrency investment and other wire fraud scams" that induced victims to transfer money into shell companies. The Secret Service was authorized to confiscate up to almost $105 million from Deltec's custodial accounts opened with Mitsubishi UFJ Trust in New York on behalf of its corporate clients. The total amount of funds seized is currently unknown and neither the Secret Service nor Deltec Bank have responded to requests for comment.