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Key Insights: US Department of Justice freezes $580M in crypto linked to Chinese transnational scam networks. Scam Center Strike Force targets pig butchering fraud operations across Myanmar, Cambodia, and Laos. Federal agencies trace blockchain transfers to recover stolen funds and return assets to victims. US Authorities Seize $580M in Crypto Linked to Global Scam Networks US authorities have seized or frozen more than $580 million in digital assets tied to global scam networks. The action targets funds linked to Chinese transnational criminal organizations. Officials said the operation focused on large investment and confidence scams. The Department of Justice announced the enforcement action. The agency said it worked with federal partners to track and secure the crypto assets. The funds were identified during investigations into organized online fraud schemes. Federal Crackdown Targets Global Crypto Scam Networks The newly formed Scam Center Strike Force led the operation. The task force includes the Federal Bureau of Investigation and the Secret Service. Several U.S. Attorney’s Offices and federal units also supported the seizures. Authorities said the networks ran cryptocurrency investment fraud, often called “pig butchering” scams. These schemes used social media and text messages to contact victims. Scammers built trust over time and then pushed victims to invest in real crypto assets. Later, victims were directed to fake trading platforms controlled by the fraud groups. Attorney Pirro said, “In only three months, we have made progress, freezing, seizing, and forfeiting cryptocurrency worth more than $580 million.” She added, “Through the legal process, my Office will seek to forfeit these funds and return them to victims to the maximum extent possible.” Scam Centers in Southeast Asia Under Investigation However, prosecutors said many operations were based in Myanmar, Cambodia, and Laos. Fraud groups allegedly ran large scam compounds in these countries. Some reports state that workers…

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Filed under: News - @ February 28, 2026 11:22 pm