EddieJayonCrypto
24 May 25
The US Department of Justice announced the recovery of over $3.3 million in digital assets linked to crypto-based fraud. US District Judge Amir Ali approved the forfeiture of about $2.5 million in cryptocurrencies, with an additional $868,000 seized separately. These actions are part of a broader ef...
The US Department of Justice (DOJ) announced the recovery of over $3.3 million in cryptocurrency assets connected to sophisticated crypto investment scams. This recovery includes approximately $2.5 million in cryptocurrencies forfeited by approval of US District Judge Amir Ali, along with an additional $868,000 seized separately. These actions form part of a broader campaign to dismantle fraud networks that manipulate victims into trusting bogus investment platforms. Scammers typically initiate contact through unsolicited messages on text, dating apps, or professional networks, gradually building trust before guiding victims to fake platforms. Victims are coaxed into converting funds into cryptocurrency and transferring them to fraud-controlled wallets, often lured by deceptive displays of high returns or small initial withdrawals to build credibility.The DOJ highlighted its collaboration with Tether, issuer of the USDT stablecoin, praising its ongoing efforts to restrict illicit use of its network. Authorities emphasized their unwavering commitment to pursuing fraudsters, seizing illicit gains, and compensating victims. FBI Special Agent Stacey Moy acknowledged the severe human toll these scams impose, reinforcing that accountability applies regardless of where perpetrators operate.US Attorney Jeanine Ferris Pirro stated, “Whether they are in our district’s streets or hiding behind a computer screen abroad, the United States will continue to hold fraudsters and grifters responsible, seize money they scam from hardworking Americans, and use our authority to compensate victims.”This recovery sends a powerful message about the evolving enforcement landscape in the cryptocurrency space, underscoring increasing cooperation between law enforcement and crypto firms to combat fraud and protect investors.