US strike force freezes and seizes over $580 million in crypto tied to Chinese crime networks

The U.S. Attorney's Office for the District of Columbia announced that the Scam Center Strike Force, established in November to combat offshore "pig butchering" operations, has frozen or seized more than $580 million in digital assets. These assets are connected to cryptocurrency investment fraud and confidence scams run by Chinese organized crime affiliates operating out of Burma, Cambodia, and Laos. The scammers use U.S. social media to gain victims' trust before directing them to fake investment sites, often employing human trafficking victims in their compounds. U.S. Attorney Jeanine Ferris Pirro stated the office will seek to forfeit the funds and return them to victims. This action occurs as Chinese-language money laundering networks are significantly expanding their role in illicit crypto, reportedly processing $16.1 billion in 2025.

(Source：The Block)