US Freezes Crypto Assets in Chinese-Linked Scam Probe

According to recent announcements by US authorities, a significant portion of cryptocurrency has been seized and frozen in relation to notorious transnational scams known as 'pig butchering' operations.

The estimated annual cost for American victims of these schemes is approximately $10 billion, which translates to around $27 million per day. This substantial financial loss has raised concerns about the scope and complexity of these operations.