US DOJ Files Civil Loss Complaint Versus $225,300,000 in Digital Assets Apparently Acquired Through Crypto Confidence Fraud
The U.S. Department of Justice (DOJ) is filing a civil loss complaint against over $225 million in crypto. According to a new DOJ press release, the funds are linked to a crypto confidence scam, laundering, and fraud scheme. A civil loss is a legal complaint that targets property, in this case, crypto, that was either obtained illegally or used to commit a crime. The DOJ’s complaint was filed in the U.S. District Court for the District of Columbia, and if the court agrees with the filing, the DOJ will likely have the authority to seize the funds.
The crypto confidence scam, often referred to as a pig butchering scheme, allegedly defrauded over 400 victims who believed they were investing in cryptocurrencies. The stolen funds were then moved through wallets and blockchains to obscure their origin.
Says DOJ Criminal Division head Matthew R. Galeotti, ‘Today’s civil forfeiture complaint is the latest action taken by the Department to protect the American public from scammers specializing in cryptocurrency-based frauds, and it will not be the last. These schemes harm American victims, costing them billions of dollars annually, and erode trust in the cryptocurrency ecosystem. Our investigators and prosecutors are tirelessly pursuing these fraudsters and their ill-gotten gains, and we will relentlessly seek recovery of victim funds.’
According to Chainalysis, these types of crypto scams were also the most lucrative for scammers in 2024.
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The post US DOJ Files Civil Loss Complaint Against $225,300,000 in Digital Assets Supposedly Acquired Through Crypto Confidence Fraud appeared first on The Daily Hodl.
