The DOJ, on May 23, reported recovering over $3.3 million in digital assets related to crypto fraud. This included a court-approved forfeiture of about $2.5 million in cryptocurrencies by US District Judge Amir Ali, as well as the seizure of an additional $868,000 linked to a similar scam.

The Department of Justice mentioned that these asset seizures are part of a broader effort to combat crypto-related fraud and prevent criminals from benefiting financially. US Attorney Jeanine Ferris Pirro emphasized that the US will hold fraudsters accountable, seize their ill-gotten gains, and compensate victims, regardless of their location.

The recovered assets were associated with complex cryptocurrency investment scams, where scammers typically engage victims through unsolicited messages, dating apps, or professional networks. After gaining trust, scammers promote fake investment opportunities on seemingly reputable platforms controlled by them, enticing victims to transfer funds. The victims, unaware of the scam, are lured with promised high returns and are eventually left without access to their funds as scammers siphon the money to their wallets.

FBI Special Agent Stacey Moy highlighted how these schemes financially harm vulnerable victims and reaffirmed the FBI's commitment to holding fraudsters accountable. The DOJ expressed gratitude to Tether, issuer of the USDT stablecoin, for aiding the investigation and collaborating with law enforcement to prevent misuse of its platform by malicious actors.