The United States Department of Justice has frozen more than $701 million in cryptocurrency linked to investment scams targeting Americans. The action is part of a broader crackdown involving law enforcement agencies and crypto exchanges.
Authorities said the operation led to the seizure of funds, the shutdown of hundreds of fraudulent websites, and the dismantling of communication channels used to recruit victims. A Telegram channel connected to a scam network was also taken offline.
Two individuals accused of operating a large fraud network in Southeast Asia have been charged. Meanwhile, the US government has offered a reward for information that could help disrupt similar operations.
The scale of the crackdown highlights the growing threat of crypto-related fraud. According to the Federal Bureau of Investigation, cybercrime losses reached $21 billion in 2025.
Officials say efforts will continue to track and recover stolen funds, with the aim of returning assets to victims wherever possible. The case underscores the importance of vigilance as digital assets become more widely used.
Source: X.com
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