- US Attorney’s office filed a civil forfeiture complaint on Wednesday against $225.3 million in cryptocurrency tied to a global investment fraud and money laundering scheme.
- The US Secret Service and the FBI used blockchain analysis and other investigative techniques to determine cryptocurrency confidence scams.
- According to an FBI report, cryptocurrency investment fraud resulted in more than $5.8 billion in reported losses in 2024 alone.
The US Department of Justice (DOJ) announced on Wednesday the largest cryptocurrency seizure in its history, targeting more than $225 million tied to crypto frauds. The Federal Bureau of Investigation (FBI) and the US Secret Service utilize advanced blockchain analysis to solve cryptocurrency confidence scams.
Largest cryptocurrency seizure in its history
DOJ announced in a press release on Wednesday that it has filed a civil forfeiture complaint in the US District Court for the District of Columbia against more than $225.3 million in cryptocurrency.
According to the complaint, the FBI and the US Secret Service used blockchain analysis to determine whether the cryptocurrency is connected to the theft and money laundering of funds from victims of cryptocurrency investment fraud schemes, commonly referred to as “cryptocurrency confidence scams.”
Matthew Galeotti, Head of the Justice Department’s Criminal Division, said in a speech.
Today’s civil forfeiture complaint is the latest action taken by the Department to protect the American public from fraudsters specializing in cryptocurrency-based scams, and it will not be the last.”
Galeotti continued:
These schemes harm American victims, costing them billions of dollars every year, and undermine faith in the cryptocurrency ecosystem. Our investigators and prosecutors are relentlessly pursuing these scammers and their ill-gotten gains, and we will relentlessly pursue recovery of victim funds.”
Cryptocurrency investors have been deceived into believing that they were making legitimate cryptocurrency investments, resulting in over 400 suspected victims being laundered through the network. Moreover, the FBI’s Internet Crime Complaint Center reported that cryptocurrency investment fraud caused more than $5.8 billion in losses in 2024 alone.
The US Secret Service and the FBI’s offices in San Francisco investigated the case. The Department of Justice also thanked Tether for its proactive assistance in this investigation.
Under my leadership, with the support of President Trump and Attorney General Bondi, the U.S. Attorney’s office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams, partnering with law enforcement throughout the country to seize and forfeit stolen funds and rip them from the hands of foreign criminals, all with the eye toward making victims whole,” said US Attorney Pirro.
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