Particle.news
Download on the App Store
9 ARTICLES
·
8h ago

US Files Civil Forfeiture to Seize $225.3 Million in Crypto Scam Funds

The funds represent the Secret Service’s largest-ever crypto forfeiture following the tracing of illicit transactions for potential victim restitution.

Image
Cryptocurrency scams have become increasingly common in the U.S. over the past five years.
Jeanine Pirro, the interim US attorney for the District of Columbia, speaks during a Department of Justice press conference on Wednesday, June 18.
Image

Overview

  • The Department of Justice initiated the civil complaint in the U.S. District Court for the District of Columbia to seize assets linked to cryptocurrency confidence scams.
  • Secret Service and FBI investigators applied blockchain analysis to unravel a sophisticated laundering network responsible for hundreds of thousands of transactions.
  • More than 400 individuals globally were lured into fake crypto investments, contributing to millions in losses that authorities seek to recover.
  • The seizure surpasses previous actions and follows a report showing cryptocurrency investment fraud caused $5.8 billion in recorded losses in 2024.
  • Federal agencies collaborated with private partners, including Tether, to identify, trace and secure illicit proceeds ahead of returning funds to victims.