{"id":36908,"date":"2026-02-27T15:57:20","date_gmt":"2026-02-27T15:57:20","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=36908"},"modified":"2026-02-27T15:57:20","modified_gmt":"2026-02-27T15:57:20","slug":"u-s-government-seizes-over-580-million-in-crypto-linked-to-southeast-asian-scams","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=36908","title":{"rendered":"U.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams"},"content":{"rendered":"

Bitcoin Magazine<\/a>
\n
\nU.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams<\/a><\/p>\n

<\/div>\n

U.S. Attorney Jeanine Ferris Pirro said federal authorities have frozen and seized more than $580 million in cryptocurrency tied to Southeast Asian scam<\/a> networks, marking a major escalation in the government\u2019s campaign against cross-border crypto fraud.<\/p>\n

The funds were restrained through the Justice Department\u2019s Scam Center Strike Force, a task force formed in November to target cryptocurrency investment and confidence schemes linked to Chinese transnational criminal organizations.\u00a0<\/p>\n

Officials said the groups use social media platforms and text messaging to target U.S. victims and siphon billions of dollars each year. Recent estimates place annual losses to Americans near $10 billion.<\/p>\n

\u201cIn only three months, we have made significant progress, freezing, seizing, and forfeiting cryptocurrency worth more than $578 million from these criminals,\u201d Pirro said in a statement<\/a>. She said her office will seek forfeiture through the courts and aims to return funds to victims.<\/p>\n

Authorities describe the schemes as \u201cpig butchering\u201d operations, in which fraudsters build relationships with victims before steering them into fraudulent crypto investments. Victims are persuaded to purchase legitimate digital assets and then transfer them to counterfeit trading platforms controlled by the scam networks.<\/p>\n

The operations often run out of secured compounds in parts of Southeast Asia, including Burma, Cambodia, and Laos. U.S. officials said some workers inside the compounds are trafficking victims who are forced to carry out scams<\/a> under threat of violence. In certain areas, revenue generated from scam activity accounts for a large share of local economic output.<\/p>\n

The Strike Force is focused on identifying senior figures within the criminal networks, including organizers and money launderers who move proceeds through blockchain transactions and shell accounts. Investigators are tracing funds across exchanges and wallets to disrupt cash-out points and freeze assets before they are dispersed.<\/p>\n

The initiative brings together the U.S. Attorney\u2019s Office for the District of Columbia and several Justice Department divisions, along with the Federal Bureau of Investigation, the U.S. Secret Service, and the Internal Revenue Service\u2019s Criminal Investigation unit. U.S. Attorney\u2019s Offices in Rhode Island and the Western District of Washington are also participating.<\/p>\n

The Justice Department said the Strike Force will continue targeting infrastructure, financial channels, and leadership structures tied to the fraud networks.<\/p>\n

Crypto crime hit $154 Billion last year<\/h2>\n

Data from Chainalysis shows<\/a> illicit crypto addresses received at least $154 billion in 2025, a 162% year-over-year increase, with sanctioned entities driving much of the surge. Nation-states including Russia, Iran, and North Korea played an outsized role, leveraging blockchain infrastructure for sanctions evasion, money laundering, and large-scale thefts.<\/p>\n

Stablecoins accounted for 84% of illicit transaction volume, the report said.\u00a0<\/p>\n

The report also highlights the expansion of Chinese money laundering networks offering \u201claundering-as-a-service\u201d and other full-stack illicit infrastructure. Although illicit activity still represents less than 1% of total crypto volume, the scale and geopolitical dimension of the activity pose rising risks for regulators, law enforcement, and national security.<\/p>\n

This post U.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine U.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams U.S. Attorney Jeanine Ferris Pirro said federal authorities have frozen and seized more than $580 million in cryptocurrency tied to Southeast Asian scam networks, marking a major escalation in the government\u2019s campaign against cross-border crypto fraud. The funds were restrained […]<\/p>\n","protected":false},"author":1,"featured_media":36909,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-36908","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nU.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=36908\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Magazine U.S. Government Seizes Over $580 Million in Crypto Linked to Southeast Asian Scams U.S. Attorney Jeanine Ferris Pirro said federal authorities have frozen and seized more than $580 million in cryptocurrency tied to Southeast Asian scam networks, marking a major escalation in the government\u2019s campaign against cross-border crypto fraud. 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