DOJ freezes $701M crypto in scam sweep

The US Department of Justice has frozen more than $701 million in cryptocurrency linked to investment scams targeting Americans as part of a coordinated enforcement operation.

The action, led by the US Scam Center Strike Force and partners, also resulted in the takedown of 503 fake crypto investment websites and the seizure of a Telegram channel used to recruit victims.

Authorities said the funds were restrained through a mix of voluntary cooperation from crypto exchanges and formal legal processes, underscoring increasing coordination between law enforcement and industry.

“The Scam Center Strike Force continues its work to identify, seize, and forfeit funds involved in money laundering related to scams, so that funds can be returned to victims whenever possible,”

The US Attorney’s Office said.

The operation also unsealed charges against two Chinese nationals accused of running a fraud network in Southeast Asia, while the US State Department offered a $10 million reward tied to disrupting related scam centres, and following the announcement the Department of Justice did not have a listed share price as a government entity.

The crackdown comes amid broader US efforts to build crypto reserves from seized assets, including a prior executive order supporting a Strategic Bitcoin Reserve funded through confiscations.

Globally, enforcement is intensifying, with Singapore authorities recently preventing $2.86 million in losses through a coordinated anti-scam operation, as cybercrime complaints in the US surpassed one million in 2025 with estimated losses of $21 billion.

At the time of reporting, Bitcoin price was $77,646.05.