DOJ Strikes Down China-Led Crypto Scam Empire, Seizes $52M
The Scam Center Strike Force has made significant strides in taking down Chinese-run scam centers and cryptocurrency-related fraud operations. In a coordinated effort, the Department of Justice's Scam Center Strike Force seized an illicit marketplace called Xinbi Guarantee, which facilitated scam services, and restrained approximately $52 million in laundered crypto funds. This brings the total restrained by the Scam Center Strike Force to around $938 million.
The Strike Force also expanded its reach globally, deploying a team to Africa to assist in taking down Chinese-run compounds. In Madagascar, the team assisted local authorities in processing over 3,200 electronic devices and opened investigations based on interviews with nearly 400 arrestees, including at least 30 Chinese leaders of scam compounds.
U.S. Attorney Jeanine Ferris Pirro emphasized the importance of dismantling these networks and holding offenders accountable. 'Chinese organized crime can buy a custom website and a money laundering service the way you order takeout,' she said. 'Then every American with a retirement account is in the blast radius.'
The Scam Center Strike Force will continue to target scam centers globally, as U.S. Attorney Michael J. Heyman stated, 'Transnational criminal organizations don’t care about borders, and the Department of Justice won’t either.'