The Department of Justice has delivered a crushing blow to international crypto scammers, seizing a record-breaking $225.3 million in digital assets linked to sophisticated “pig butchering” operations that have devastated victims across the globe.
This landmark action represents the largest crypto seizure in US Secret Service history, marking a significant escalation in law enforcement’s battle against crypto-enabled fraud.
Federal prosecutors filed a civil forfeiture complaint in US District Court for the District of Columbia, targeting funds traced to elaborate confidence schemes and romance scams orchestrated from Vietnam and the Philippines.
Global Crypto Scam Operation
The investigation began two years ago when cryptocurrency exchange OKX contacted law enforcement about suspicious account activity.
What started as a routine inquiry quickly mushroomed into a sprawling international investigation that would ultimately expose one of the largest crypto fraud networks ever documented. FBI and U.S. Secret Service investigators employed cutting-edge blockchain analysis to follow the digital money trail through hundreds of cryptocurrency wallets and thousands of transactions designed to obscure the stolen funds’ origins.
The crypto criminal network’s sophistication was remarkable in its scope and execution. Prosecutors revealed that the operation centered around “scam compounds” in the Philippines, where workers—many of them Vietnamese nationals—systematically targeted victims through social media platforms and dating apps.
These facilities operate like digital fraud factories, with employees working in shifts to maintain romantic relationships with victims over extended periods. The scheme’s victims typically received contact from attractive young women or men on social media, who gradually built trust before introducing investment opportunities on seemingly legitimate cryptocurrency platforms.
Many victims transferred millions of dollars before attempting to withdraw their funds, only to be told they needed to pay additional fees or taxes. After making these final payments, victims found themselves completely locked out of their accounts.
Digital Detective Work
The breakthrough came through unprecedented cooperation between U.S. agencies and private sector partners. The DOJ worked closely with OKX and blockchain company Tether to track the stolen funds through their complex laundering routes. Investigators found that the same IP address accessed 132 of the 144 identified accounts, providing crucial evidence that all accounts were controlled by the same criminal organization.
The investigation revealed the global nature of modern crypto fraud, with evidence showing that many workers in these scam compounds are themselves victims of human trafficking. The United Nations has documented how transnational criminal organizations force individuals to work in these operations against their will, creating a complex web of exploitation that extends far beyond financial fraud.
This seizure represents more than just recovered funds—it demonstrates law enforcement’s evolving capacity to pursue crypto criminals across international borders and complex blockchain networks. As crypto investment fraud continues to cost Americans billions annually, with the FBI reporting $5.8 billion in losses last year alone, this action sends a clear message that digital assets cannot shield criminals from justice.
