US DOJ Freezes $701M in Crypto Tied to Investment Fraud Operations
The US Department of Justice has frozen over $701 million in cryptocurrency tied to investment fraud operations targeting Americans. This move is part of the work of its Scam Center Strike Force and partner law enforcement agencies.
The cryptocurrency was restrained through a combination of voluntary actions by crypto exchanges and formal legal processes, according to the US Attorney's Office for the District of Columbia.
The strike force intends to return recovered funds to victims where possible. As part of the same operation, authorities seized a Telegram channel used by scam operators to recruit unsuspecting job seekers for a fraudulent crypto investment center.
Criminal complaints and arrest warrants were also unsealed against two individuals accused of managing a crypto fraud operation at a compound in a region experiencing ongoing geopolitical tensions.