The U.S. Department of Justice announced the seizure of over $112 million related to a cryptocurrency investment scam

2023-04-04 09:23:17

Collection

ChainCatcher news, the U.S. Department of Justice (DOJ) announced that it has seized $112 million in digital assets related to cryptocurrency investment fraud. Additionally, judges in the Arizona district, the Central District of California, and the Idaho district authorized the seizure of six virtual currency accounts.

According to court documents, these virtual currency accounts were allegedly used to launder proceeds from various cryptocurrency scams. In the related schemes, perpetrators gradually gained the trust of victims through social networks, dating sites, phone calls, text messages, and other communication methods. Ultimately, the criminals persuaded them to invest in fraudulent cryptocurrency platforms, and then transferred the stolen funds to their own addresses.

The U.S. Department of Justice noted that in 2022, among all scams reported to the FBI's Internet Crime Complaint Center (IC3), investment fraud caused the highest losses, totaling $3.31 billion. Fraud involving cryptocurrency (including pig butchering) accounted for the majority of these scams, with reported losses increasing by 183% from 2021 to last year, reaching $2.57 billion. (source link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.