US Cracks Down on Crypto Scam Networks with Record-Seized Assets

The US government has taken a significant step in cracking down on cryptocurrency scam networks. On July 21, 2026, the U.S. Attorney's Office for the District of Columbia filed five civil forfeiture complaints to recover over $25 million in digital assets. The seizures are part of an ongoing effort by the Cyber Fraud Task Force to dismantle transnational criminal networks operating out of Asia.

According to officials, the financial operators behind these scams were located in Southeast Asia, with IP addresses registered in China, Malaysia, and Cambodia. The primary method used in these operations is known as 'pig butchering,' where victims are gradually built up to trust before being steered toward fake trading platforms.

Two of the cases account for the majority of seized funds, accumulating $12.09 million and $10.4 million, respectively. The recovered assets will be used to restore stolen funds to thousands of victims impacted by crypto scams across the United States and Canada.