The US Secret Service recovers over $25 million in cryptocurrency through 5 investigations

The Office of the United States Attorney for the District of Columbia and the Washington Field Office of the United States Secret Service announced on July 21 that the Cyber Fraud Task Force has seized over $25 million in cryptocurrency through multiple investigations, involving assets related to international fraud schemes targeting residents of the United States and Canada. The federal prosecutor in Washington D.C. has submitted 5 civil confiscation appeals seeking to confiscate recovered cryptocurrencies. Investigators have confirmed multiple money laundering networks and thousands of victims worldwide, with the largest appeal involving over 200 victims of dating fraud totaling approximately $12.1 million. Another appeal involves a suspicious cryptocurrency wallet network reported by Canadian authorities to the US Secret Service, with an amount of approximately $10.4 million. Agents have traced over 270 suspected victim transactions related to fraudulent investment platforms, accounting for approximately 85% of the assets involved in the five confiscation appeals. The remaining cases involve obstructed withdrawals, false investment accounts, and recovery fraud. Investigators said that most of the suspected money launderers were located in Southeast Asia and identified Internet protocol addresses related to China, Malaysia and Cambodia. Five investigations are still under way.