The U.S. Department of Justice on Thursday announced it had frozen more than $701 million in cryptocurrency tied to investment scams targeting American victims. The action was led by its Scam Center Strike Force, working with crypto exchanges and legal measures to restrain the funds. “The Scam Center Strike Force continues its work to identify, seize, and forfeit funds involved in money laundering related to scams, so that funds can be returned to victims whenever possible,” the agency said.
503 Fake Investment Sites Seized, Telegram Recruit Channel Nixed
Investigators also took down at least 503 fake investment websites. Those domains previously displayed fabricated dashboards and false returns to convince users to deposit funds — they now show seizure notices. Authorities also confirmed the seizure of a Telegram channel used to recruit individuals into a scam center based in Cambodia, where job seekers were often lured under false pretenses.
Earlier enforcement action in December 2025 saw U.S. authorities seize domains linked to the Tai Chang compound in Burma, where platforms mimicked legitimate trading services and directed victims to download malicious apps before extracting funds. Court filings unsealed alongside the latest action name two Chinese nationals, Huang Xingshan and Jiang Wen Jie, accused of running a crypto fraud operation from the Shunda compound in Burma. That site had been seized in November 2025 by the Karen National Liberation Army, exposing links between armed groups and scam networks.
$10M Bounty for Intelligence on Scam Compounds
The U.S. Department of State has offered a $10 million reward for information that could disrupt the Tai Chang scam centers, which investigators have linked to organized crime activity in the region. Some of the seized assets are expected to fund the Strategic Bitcoin Reserve and Digital Asset Stockpile established by President Donald Trump’s March 2025 executive order.
Southeast Asia Joint Ops: Singapore Intercepts $2.86M in a Month
Similar efforts have been underway outside the U.S. The Singapore Police Force disclosed that a one-month operation between March 16 and April 15 prevented more than $2.86 million in potential losses. Working with exchanges such as Coinbase, Gemini, Independent Reserve, and regional platform Coinhako, authorities were able to identify victims early and intervene. Blockchain analytics firms TRM Labs and Chainalysis supported the effort by tracing suspicious transactions. “Officers conducted over 90 direct interventions, contacting scam victims both by telephone and in-person to prevent further financial losses,” they said.
Complaints keep rising. The Federal Bureau of Investigation reported in April that it received more than one million cybercrime complaints in 2025, with total losses reaching about $21 billion. Southeast Asia remains central to many of these operations. Scam compounds across countries such as Myanmar, Cambodia, and Laos often rely on trafficked or coerced workers, with crypto investment fraud emerging as one of their most profitable activities.