Washington State Seeks Forfeiture of $7.1M in Crypto Linked to Fraud Scheme

U.S. authorities are moving to seize $7.1 million in cryptocurrency tied to an international fraud scheme that allegedly stole $97 million from victims. The funds, recovered in December 2024, were laundered through a complex oil tank rental operation involving Geoffrey K. Auyeung, a Newcastle, Washington resident.

Acting U.S. Attorney Tessa M. Miller emphasized the rapid tracing and seizure of the digital assets to partially reimburse victims. The illicit transactions originated from wallets linked to Russian and Nigerian IP addresses, highlighting the global reach of crypto-related crime.

Auyeung, indicted in August 2024, faces up to 200 years in prison if convicted. The case underscores growing regulatory scrutiny of cryptocurrency's role in financial crimes while demonstrating law enforcement's improving capacity to track digital asset flows.