US Secret Service Recovers Over $25 Million in Cryptocurrency

The U.S. Attorney's Office for the District of Columbia and the Washington field office of the U.S. Secret Service announced that through multiple investigations by the Cyber Fraud Task Force, over $25 million in cryptocurrency has been seized, related to an international fraud scheme targeting residents of the United States and Canada. The U.S. Attorney has filed five civil forfeiture complaints seeking to confiscate the recovered cryptocurrency. Investigations confirmed multiple money laundering networks and thousands of victims worldwide, with the largest complaint involving a romance scam affecting over 200 victims, totaling approximately $12.1 million. Another complaint pertains to a network of suspicious cryptocurrency wallets reported by Canadian authorities, amounting to about $10.4 million. Agents tracked over 270 suspected victim transactions linked to fraudulent investment platforms, with these two cases accounting for approximately 85% of the assets involved in the five forfeiture complaints. The remaining cases involve blocked withdrawals, fake investment accounts, and recovery scams. Investigators stated that most suspected money launderers are located in Southeast Asia and identified internet protocol addresses associated with China, Malaysia, and Cambodia, with five investigations still ongoing.

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