Michaela
The U.S. Department of Justice (DOJ) has filed a civil forfeiture complaint targeting over $225 million in cryptocurrency allegedly tied to international crypto fraud.
According to a DOJ press release, the complaint, filed in the U.S. District Court for the District of Columbia, claimed that law enforcement traced the digital assets using blockchain analysis and other investigative methods, linking them to stolen and laundered funds from defrauded investors.
The complaint further alleges that the $225 million in crypto was tied to a complex laundering network that ran hundreds of thousands of transactions to disguise funds from crypto investment fraud, spreading them across numerous blockchain wallets to hide their origin.
“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,” Head of the Justice Department’s Criminal Division, Matthew R. Galeotti stated.
“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,” Galeotti added.
U.S. Attorney for the District of Columbia Jeanine Pirro emphasized that her office, with backing from President Donald Trump and Attorney General Bondi, is spearheading efforts to combat crypto fraud. She noted that the office is working closely with law enforcement nationwide to seize stolen digital assets and recover funds from foreign actors, with the goal of returning them to defrauded victims.
Shawn Bradstreet, Special Agent in Charge of the U.S. Secret Service’s (USSS) San Francisco Field Office, shared that the $225.3 million seizure linked to crypto investment scams is the largest in the agency’s history. He noted the devastating impact of these schemes, which exploit victims’ trust and often lead to severe financial loss.
Additionally, the press release stated that authorities believe that more than 400 individuals were deceived into thinking they were participating in legitimate cryptocurrency investments, ultimately resulting in significant financial losses.
The case emphasizes the growing role of U.S. authorities in targeting digital financial crimes and reflects an ongoing commitment to protecting consumers from evolving online crypto fraud schemes.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
