DOJ Targets $26.4 Million in Cryptocurrency Scam Cases

US authorities have filed five civil-forfeiture complaints seeking around $26.4 million in cryptocurrency from separate international fraud investigations.

The cases demonstrate how investigators can freeze suspected criminal proceeds before identifying suspects, preserving assets during ongoing probes.

In one case, investigators traced over 270 transactions involving fraudulent investment platforms, while another involved more than 200 romance-scam victims and hundreds of intermediary addresses used to commingle funds.

The Department of Justice (DOJ) said launderers were predominantly located in Southeast Asia, with associated IP addresses in China, Malaysia, and Cambodia.