Federal authorities in Washington have seized or frozen more than $580 million in cryptocurrency linked to scam centres operating across Southeast Asia.
Prosecutors said the funds were connected to operations allegedly run by Chinese transnational criminal groups targeting victims abroad.
The seizures were carried out by the Scam Center Strike Force, a newly formed unit focused on dismantling so-called “pig butchering” investment fraud schemes.
Officials from the U.S. Attorney’s Office for the District of Columbia confirmed the action marks one of the largest coordinated crypto enforcement efforts to date.
Investigators explained that these schemes often begin with unsolicited contact through social media platforms or text messages.
Victims are gradually drawn into conversations where trust is built before being encouraged to purchase legitimate cryptocurrency.
Authorities said the funds are then funnelled into fraudulent trading websites and mobile applications controlled entirely by criminal operators.