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US authorities seize $580M in crypto scam tied to Chinese crime networks behind pig butchering scams across Southeast Asia. United States authorities announced a major action against global crypto fraud networks. The United States Department of Justice confirmed more than $580 million in digital asset seizures. These funds were linked to transnational scam groups. Therefore, investigators increased efforts to prevent crypto fraud on a large scale against Americans. US Task Force Targets Southeast Asia Crypto Scam Networks The seizures were carried out by a newly created Scam Center Strike Force. The initiative is run by the United States Attorney’s Office for the District of Columbia. Authorities formed the task force in November 2025 to coordinate investigations against global crypto scams. Related Reading: Binance Partners Crush Cyber Scams Across 19 Countries | Live Bitcoin News These fraud networks are said to be operating from compounds throughout Southeast Asia. Some key locations are Myanmar, Cambodia, and Laos. Criminal groups allegedly operate organized “pig butchering” investment scams from these areas. Pig butchering scams are along the lines of long-term social manipulation of victims. Fraudsters establish a relationship with the targets by holding them in conversation over the internet. Later, they trick victims into investing in fraudulent cryptocurrency companies. As a result, victims send money directly to wallets owned by criminals. Investigators said that many networks are connected with Chinese organized crime groups. These groups are often in contact with victims via American social media accounts. Therefore, authorities believe international coordination is still the key to breaking up the schemes. The operation had several federal agency supporters. These include Federal Bureau of Investigation, the United States Secret Service, and the United States Department of the Treasury. Together, these agencies traced transactions on the blockchain and seized illicit digital assets. Reports estimate that similar scams…

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Filed under: News - @ February 27, 2026 9:22 pm