Largest-Ever Crypto Confidence Scam Forfeiture Targets Global Criminal Network
Washington, D.C. â June 19, 2025
The U.S. Attorneyâs Office for the District of Columbia has filed a civil forfeiture complaint to seize over $225.3 million in cryptocurrency linked to an extensive global investment fraud and money laundering networkâmarking the largest crypto-related seizure in the history of the U.S. Secret Service.
The complaint, filed in U.S. District Court for the District of Columbia, asserts that the funds were generated through sophisticated cryptocurrency âconfidence scamsâ that defrauded hundreds of victims around the world, including dozens across the United States.
đ Massive Fraud Scheme Uncovered
The U.S. Secret Service and the FBI, leveraging blockchain analysis and advanced investigative tools, uncovered a high-volume laundering network designed to conceal the origins and ownership of stolen funds. According to the filing, the perpetrators routed illicit proceeds through hundreds of thousands of crypto transactions, across multiple addresses and wallets, in a calculated attempt to evade detection.
Investigators confirmed that the funds originated from victims misled into believing they were participating in legitimate cryptocurrency investment opportunitiesâa hallmark of âpig butcheringâ scams. More than 400 potential victims globally have been identified, with total losses in the millions of dollars.
đĄïž Justice Department Pledges Continued Action
U.S. Attorney Jeanine Pirro emphasized the departmentâs commitment to victims and national financial security:
âWith the support of President Trump and Attorney General Bondi, we are leading the charge to dismantle crypto-confidence scams, seize criminal proceeds, and restore what was taken from innocent investors.â
Matthew R. Galeotti, Head of the Justice Departmentâs Criminal Division, added:
âThis action is part of our aggressive strategy to disrupt criminal crypto networks and recover stolen assets. Cryptocurrency scams cost Americans billions annually, and we are far from done pursuing those responsible.â
đ° Record-Breaking Seizure and Victim Assistance
Special Agent in Charge Shawn Bradstreet of the U.S. Secret Service described the operation as historic:
âThis is the largest cryptocurrency seizure in our agencyâs history. These scams exploit trust and leave victims facing financial devastation. Weâre working tirelessly to trace, seize, and eventually return these funds to those who lost them.â
FBI Special Agent in Charge Sanjay Virmani echoed the urgency of intervention:
âThe impact of crypto fraud extends beyond financial harm. It erodes digital trust. We are committed to protecting victims, holding perpetrators accountable, and securing the integrity of the cryptocurrency ecosystem.â
The case is being investigated by the U.S. Secret Service and FBIâs San Francisco Field Offices, with cooperation from blockchain firm Tether, which provided proactive assistance.
đ© Next Steps and Victim Outreach
The Department of Justice is encouraging victims of crypto investment fraud to report their cases to the FBI Internet Crime Complaint Center (IC3) at www.ic3.gov.
If you believe your case may be connected to this seizure, include code âBT06182025â in your complaint narrative. Those who previously submitted a report are urged to reference their initial submission.
âïž Legal Handling
The case is being prosecuted by Assistant U.S. Attorneys Kevin Rosenberg and Rick Blaylock, Jr., alongside Trial Attorneys Stefanie Schwartz and Ethan Cantor of the Justice Departmentâs Computer Crime and Intellectual Property Section (CCIPS).
For media inquiries, contact the U.S. Attorneyâs Office for the District of Columbia at [email protected].
