A massive, coordinated international law enforcement operation has struck a blow to the booming cryptocurrency scam industry.
Authorities have arrested 276 people and dismantled at least nine cryptocurrency scam centers in a coordinated international crackdown targeting fraud networks that preyed on U.S. investors.
Dubai Police led the operation with support from the Federal Bureau of Investigation (FBI) and China’s Ministry of Public Security, in one of the largest recent actions against cross-border crypto scams.
Investigators said the network operated through organized groups running structured fraud campaigns, commonly known as “pig butchering.” The model involves building long-term trust with victims before directing them to invest in fake cryptocurrency platforms.
Through Operation Level Up, a joint initiative originating in San Diego and Phoenix, federal agents warned nearly 9,000 victims and helped prevent an estimated $562 million in further losses.
The case highlights the growing importance of international cooperation in tackling increasingly sophisticated fraud networks.
Source: X.com
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