$13 Billion in Crypto Scams Tied to Non-US Operations
A recent analysis by the US Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has revealed that non-US operations are behind $13 billion in cryptocurrency scams.
The study, which covered over 33,000 reports filed between September 2023 and December 2025, found that 'transnational criminal organizations' based in Southeast Asia were responsible for the scams.
The digital asset-based scams included instances of pig butchering, romance scams, and 'cryptocurrency confidence schemes', where victims are manipulated into investing in crypto with false promises of large returns.
According to Gene Lange, performing the duties of Under Secretary for Terrorism and Financial Intelligence, 'digital asset investment scams pose one of the most significant fraud threats facing Americans today.'