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- FBI seized a record $8 billion in cryptocurrency tied to global scam networks.
- Nearly 300 suspects were arrested and around 2,000 trafficked workers were rescued.
- The operation targeted fraud compounds linked to organized crime groups across several countries.
The FBI has announced a major victory against international fraud networks after seizing cryptocurrency worth about $8 billion and arresting hundreds of suspects linked to large-scale scam operations. The action formed part of a worldwide crackdown on criminal organizations that used online fraud, cryptocurrency scams, and human trafficking to generate billions of dollars in illegal profits.
Authorities said the investigation targeted scam compounds operating across Asia, Africa, and the Middle East. These centers allegedly focused on American victims and used sophisticated methods to steal money through fake investment opportunities, romance scams, and other online schemes.
The largest development came from the case against Chen Zhi, the chief executive of Cambodia-based Prince Holding Group. Investigators seized more than 127,000 bitcoin connected to the operation. Officials described the confiscation as the biggest cryptocurrency forfeiture ever completed by the U.S. government.
U.S. Charges Businessman in Crypto Scam Case
Federal prosecutors charged Zhi with wire fraud and conspiracy to launder money. Investigators stated that Prince Holding Group aided in running scam compounds all over the globe. They noted that the compound was making huge profits while preying on victims on the internet.
The severity of their operations was seen in one case. The officials indicated that one American had lost around $3 million in the romance scam. Investigators examined several other cases in which people lost money to similar scams.
This particular bust operation happened in connection with Operation Blackout, which is part of several investigations against criminals who practice cyber fraud and laundering of money. In the Middle East, law enforcement agencies made arrests of 275 persons in scam compounds.
Some of the persons arrested would be sent back to the U.S. for trial. Investigators noted that some of the scam compounds were earning several million dollars each year. Authorities shut down the operations of another group, the Democratic Karen Benevolent Army, in Myanmar.
Crypto Scam Investigation Leads to Major Seizure
Criminal investigators confiscated tens of millions of dollars associated with scam centers operating in territories controlled by the organization. The collaboration between Thai officials and the FBI helped put down recruitment networks, which lured the workers with fabricated job advertisements.
It was found that scam operations made use of trafficked individuals. Criminal organizations first enticed potential recruits with promises of high wages and legitimate work before pressuring them to commit fraud schemes. The victims would be subject to coercion, threats, and violence. Additionally, the FBI collaborated with Starlink to detect communication networks used by scammers.
In connection with the case, more than 7,000 satellite terminals in Myanmar have been shut down. The operation got underway following the receipt of thousands of complaints at the FBI’s Internet Crime Complaint Center. The year 2025 alone saw the filing of almost 72,000 complaints regarding cryptocurrency scams worth $7.5 billion. Officials expect the actual amount to be higher.
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