US Recovers $225M From Global Crypto Scam

U.S. authorities have seized over $225 million in cryptocurrency in the largest-ever recovery from a global crypto investment scam, which targeted hundreds of victims and involved complex laundering methods across multiple blockchain addresses. The scam, partly traced to Southeast Asia and the Philippines, used 'crypto confidence' tactics to defraud individuals, resulting in substantial financial losses. Federal agencies including the FBI, Secret Service, and Department of Justice used advanced blockchain analysis to track and recover the funds, with plans to return them to victims. U.S. Attorney Jeanine Pirro highlighted the government's determination to combat crypto-related fraud. Separately, stablecoin issuer Tether continues to freeze millions in USDT linked to suspicious or sanctioned entities as part of broader anti-money laundering efforts. Losses from crypto investment scams have sharply increased, with 2024 losses estimated at $5.8 billion.