US Authorities Seize $25 Million in Crypto Tied to Cross-Border Scams

U.S. authorities have seized over $25 million in cryptocurrency tied to cross-border fraud schemes, highlighting the role of digital assets in modern cybercrime.

The U.S. Attorney's Office for the District of Columbia and the U.S. Secret Service's Washington Field Office made the seizures through investigations by their Cyber Fraud Task Force.

The largest case involved a 'romance scam' affecting over 200 victims, with losses totaling $12.1 million. Another major case stemmed from a network of suspicious wallets flagged by Canadian authorities and shared with the Secret Service, resulting in a loss of around $10.4 million.

The total amount seized accounts for about 85% of the assets targeted for forfeiture, which also includes schemes characterized by withdrawal restrictions, fake investment accounts, and tracing of stolen proceeds.