TL;DR:
- The DOJ froze over $701 million in cryptocurrencies linked to funding scams focusing on U.S. residents.
- The operation additionally seized a Telegram channel used to recruit victims and took down 503 pretend crypto funding web sites.
- Arrest warrants have been issued towards two Chinese language nationals accused of operating a fraud operation in Burma.
The U.S. Division of Justice (DOJ) introduced that it froze over $701 million in cryptocurrencies related to funding scams focusing on U.S. residents. The operation was carried out by the Rip-off Middle Strike Power alongside its regulation enforcement companions, in keeping with the U.S. Lawyer’s Workplace for the District of Columbia. The funds have been frozen by way of voluntary actions by varied crypto exchanges and formal authorized proceedings.
“The Rip-off Middle Strike Power continues its work to establish, seize, and forfeit funds concerned in scam-related cash laundering, to allow them to be returned to victims at any time when doable,” the official assertion learn. The frozen quantity takes on further significance given the chief order signed by President Donald Trump, which created a Strategic Bitcoin Reserve and a Digital Asset Fund financed with confiscated cryptocurrencies.
Crypto Fraud Networks Dismantled Throughout A number of Continents
Along with freezing funds, the DOJ operation included the seizure of a Telegram channel used to recruit job seekers right into a crypto rip-off heart in Cambodia. 503 pretend funding web sites have been additionally taken down — websites that lured victims into depositing cryptocurrencies — and changed with pages informing customers of the regulation enforcement motion.
Legal complaints and arrest warrants towards two Chinese language nationals, Huang Xingshan and Jiang Wen Jie, have been additionally unsealed. Each are accused of operating a fraud operation on the Shunda compound in Burma, a territory seized by the Karen Nationwide Liberation Military in November 2025. The State Division supplied a $10 million reward for data that will assist dismantle the Tai Chang rip-off facilities in that nation.
In the meantime, Singapore Police carried out a month-long operation between March 16 and April 15 alongside exchanges equivalent to Coinbase, Gemini, and Coinhako, and blockchain analytics corporations together with Chainalysis and TRM Labs, which prevented losses exceeding $2.86 million. For its half, the FBI reported in April having acquired over a million complaints throughout 2025, with whole cybercrime losses exceeding $21 billion.
