U.S. prosecutors are seeking forfeiture of more than $25 million in cryptocurrency alleged to be connected to international romance and investment scams, according to multiple reports. The cases involve funds traced from thousands of victims to laundering networks, with authorities saying the activity spans multiple jurisdictions. Decrypt reports that five forfeiture cases are filed, and that Secret Service agents follow financial flows from victim losses to suspected launderers in Southeast Asia. Cointelegraph and CoinDesk similarly describe the effort as targeting crypto tied to fraud and laundering networks tied to those scam types. CoinDesk adds that the new action is part of broader recovery efforts, stating authorities have previously recovered more than $800 million through a federal scam task force. The Block likewise characterizes the forfeiture seek as arising from five investigations into global fraud and laundering networks and notes the amount sought is over $25 million. All accounts frame the matter as a forfeiture action tied to tracing and recovering proceeds believed to facilitate or result from the alleged scams.
US seeks forfeiture of $25M in crypto linked to romance and investment scams
U.S. prosecutors are seeking forfeiture of more than $25 million in cryptocurrency alleged to be connected to international romance and investment scams, according to multiple reports. The cases invol...
- U.S. prosecutors seek forfeiture of more than $25 million in cryptocurrency.
- The crypto is alleged to be connected to romance and investment scams.
- The reports describe five forfeiture cases tied to investigations into fraud and laundering networks.
- Authorities say they trace funds from thousands of victims to suspected launderers, including in Southeast Asia.
- One report says the action adds to broader federal scam task force recoveries of over $800 million.
Prosecutors filed five forfeiture cases as Secret Service agents traced funds from thousands of victims to launderers in Southeast Asia.
1 hour agoThe cases add to more than $800 million that authorities say a dedicated federal scam task force has recovered.
2 hours agoUS prosecutors are seeking more than $25 million in cryptocurrency allegedly connected to international fraud and laundering networks.
5 hours agoUS prosecutors seek forfeiture of $25 million in crypto recovered from five investigations into international fraud and laundering networks.
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