U.S. cryptocurrency fraud and seizure operations

U.S. law enforcement agencies have conducted major operations to seize cryptocurrency linked to large-scale fraud and money laundering networks.

In one operation, the Department of Justice’s Scam Center Strike Force restrained approximately $52 million in cryptocurrency targeting the Xinbi Guarantee marketplace. This platform reportedly operated via Telegram, providing escrow-like services for criminal activities including money laundering, fraudulent investment schemes, and technical assistance. Investigators noted that the marketplace was allegedly used by North Korean hackers and linked to human trafficking recruitment in Southeast Asia.

Following this, the Department of Justice filed a civil forfeiture complaint seeking to seize more than 225 million USDT. This action, involving the FBI and Secret Service, targets a massive investment fraud and money laundering network affecting over 430 suspected victims. The legal proceedings include a contest by a former legal advisor regarding the seizure of assets she had previously identified through independent blockchain investigations.