Federal officials seized more than $225 million in stolen cryptocurrency in what they say is the largest-ever seizure of funds linked to a crypto confidence scam in US history.
Photo Credit: DOJ/Pixabay via MichaelWuensch
Authorities say the scammers dispersed stolen funds across hundreds of thousands of blockchain transactions in an effort to hide the source and ownership.
Investigators confirmed that dozens of victims in the US were impacted, with over 400 suspected victims worldwide.
The complaint outlines how the scammers used blockchain-based laundering networks to “conceal the nature, source, control, and ownership of proceeds” from the fraud.
“Under my leadership, with the support of President Trump and Attorney General Bondi, the US Attorney’s Office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams,” said US Attorney Jeanine Ferris Pirro.
Matthew Galeotti, head of the Justice Department’s Criminal Division, added that “these schemes harm American victims, costing them billions of dollars every year, and undermine faith in the cryptocurrency ecosystem.”
“This case highlights our commitment to protecting the American public from fraudsters specializing in cryptocurrency-based scams,” Galeotti said. “It will not be the last.”
