US Seizes $225M in Largest Crypto Fraud Crackdown
Federal authorities in the United States have moved to seize over $225 million in cryptocurrency, marking the largest crypto-related forfeiture in the history of the U.S. Secret Service. The massive seizure is tied to an international fraud operation involving fake investment schemes that exploited victims through cryptocurrency-based scams.
A civil forfeiture complaint was filed in the U.S. District Court for the District of Columbia following a coordinated investigation by the Secret Service, the Federal Bureau of Investigation (FBI), and the U.S. Attorney’s Office. Investigators used blockchain tracing techniques to follow the trail of illicit transactions.
The stolen crypto assets were laundered through hundreds of thousands of transactions in a calculated attempt to obscure their origin and evade detection. Despite the complexity, law enforcement was able to track and freeze wallets linked to the global network of scam operations.
According to the U.S. Attorney’s Office, the scams involved so-called “cryptocurrency confidence schemes,” in which individuals were deceived into investing in fake crypto opportunities. These frauds have impacted millions of people in the U.S., as well as more than 400 victims around the globe.
“These scams prey on trust, often resulting in extreme financial hardship for the victims,” said Secret Service Special Agent Shawn Bradstreet. U.S. Attorney Jeanine Pirro also weighed in, emphasising that her office is taking an aggressive stance against crypto fraud.
In a post on X, she stated that the District of Columbia’s office—under her leadership and with support from President Trump and Attorney General Pam Bondi—is working alongside law enforcement nationwide to reclaim stolen funds and dismantle the criminal enterprises behind these schemes.
The Justice Department noted that the immediate focus is not just on freezing assets but also on identifying and dismantling the broader network responsible, with the ultimate goal of returning funds to those who were defrauded.
