U.S. recovers $225 million stolen in Crypto scam

 

The U.S. government has recovered $225 million in what is now the largest seizure of funds linked to a cryptocurrency investment scam.

 

In a statement released Wednesday, June 18,  the U.S. Attorney’s Office said the recovery followed an extensive investigation by the FBI and the U.S. Secret Service, using blockchain analysis and other forensic tools. The statement did not confirm whether any arrests had been made.

According to the authorities, the stolen funds originated from fraudulent cryptocurrency investment schemes that tricked victims into believing they were making legitimate investments. More than 400 individuals around the world, including dozens in the United States, were reportedly affected.

 

 

The operation involved a sophisticated money laundering network that carried out hundreds of thousands of blockchain transactions to obscure the source and ownership of the stolen assets.

 

 

“These scams prey on trust, often resulting in extreme financial hardship for the victims,” said Shawn Bradstreet, Special Agent in Charge at the U.S. Secret Service office in San Francisco.

 

 

Bradstreet added that U.S. officials hope the recovered funds can eventually be returned to the rightful victims.

 

 

Cryptocurrency investment fraud accounted for over $5.8 billion in reported losses in 2024 alone, according to the statement.