U.S. Attorney Jeanine Ferris Pirro said on Oct. 27 that authorities had restrained more than $1 billion in cryptocurrency tied to fraud and scams. Restraint limits the use or transfer of assets pending legal proceedings and possible compensation for victims; it does not mean the assets have been forfeited.
The Justice Department’s Scam Center Strike Force also seized 700 fraudulent investment websites and Telegram channels. In a separate alleged dating and cryptocurrency investment scam based in Madagascar, six defendants were charged, and FBI investigators identified about 800 U.S. victims. Pirro called for the defendants’ extradition, while U.S. officials reported obstacles to interviews and said suspects had been repatriated to China before the investigation concluded.
