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DOJ Task Force Seizes $580M in Crypto Linked to Chinese Fraud Ring

DOJ Task Force Seizes $580M in Crypto Linked to Chinese Fraud Ring

Author:

Global Cryptocurrency

Published:

2026-02-28 08:08:02

19

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BTCCSquare news:

US federal authorities have confiscated or frozen over $580 million in cryptocurrency tied to Chinese transnational criminal organizations. The operation targeted sophisticated investment scams that prey on American victims, with losses estimated at nearly $10 billion annually.

The D.C. Scam Center Strike Force—a collaboration between the DOJ, FBI, and US Attorney's Office—executed the seizure. Prosecutors noted these networks exploit US-based internet services and social media to identify targets and drain life savings.

"This represents a major step in dismantling a pipeline fueling crypto fraud," said US Attorney Jeanine Pirro. The task force, formed in November, has disrupted $578 million in illicit assets within three months.

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