# US crackdown on cryptocurrency and online fraud > Live situation record from CLSTR: https://clstr.news/situations/us-crackdown-on-cryptocurrency-and-online-fraud > Updated: 2026-10-16T14:30:36.000Z. Sources: 10. Developments: 2. Authorities in the United States are intensifying efforts to combat large-scale cryptocurrency and online investment scams. The Brooklyn District Attorney’s Virtual Currency Unit, in coordination with the FBI, recently dismantled a multinational network that defrauded Russian-speaking Americans of tens of millions of dollars. This operation involved the seizure of 241 fraudulent websites and 112 servers located across the United States and Eastern Europe, specifically linked to Ukraine. Investigators found that the scammers utilized Russian-language Facebook advertisements to direct victims toward fake investment platforms. Once funds were deposited, victims were often unable to withdraw them or were targeted by secondary “recovery scams” promising to retrieve stolen assets. While approximately $300,000 has been recovered, no arrests have been reported. This disruption occurs amid broader financial trends, with reports indicating that Americans lost $11.366 billion to cryptocurrency fraud in 2025. In response to rising online crime, the SCAM Act has been introduced in Congress to address fraudulent advertising on digital platforms. ## Timeline ### 2026-10-16: US authorities target rising cryptocurrency and online fraud networks US authorities and lawmakers are battling a surge in digital fraud, with crypto scams and online crimes causing billions in losses. Recent enforcement actions disrupted international scam networks. 3 sources. https://clstr.news/cluster/us-authorities-target-rising-cryptocurrency-and-online-fraud-networks ### 2026-10-14: Brooklyn prosecutors and FBI dismantle international crypto scam Brooklyn prosecutors and the FBI dismantled an international crypto scam that stole tens of millions from Russian-speaking victims by seizing 241 websites and 112 servers. 7 sources. https://clstr.news/cluster/brooklyn-prosecutors-and-fbi-dismantle-international-crypto-scam --- Cite as: US crackdown on cryptocurrency and online fraud. CLSTR, https://clstr.news/situations/us-crackdown-on-cryptocurrency-and-online-fraud