US Scam Center Strike Force Seizes $580 Million in Crypto from Southeast Asian Crime Networks

The Scam Center Strike Force has achieved a major milestone in its fight against cryptocurrency scams, freezing and seizing over $580 million in assets from Southeast Asian crime networks. The force's efforts are focused on dismantling transnational criminal organizations that have made billions through 'pig butchering' scams.

These scams involve social engineering tactics to convince victims to purchase cryptocurrency, which is then diverted by the scammers using fake investment domains and applications. Southeast Asia has emerged as a hotspot for scam compounds, often relying on coerced labor, which Interpol has recognized as a global threat.