Home / Crime and Justice / FBI Seizes $8B Crypto in Global Scam Bust
FBI Seizes $8B Crypto in Global Scam Bust
29 May
Summary
- FBI confiscated over 127,000 bitcoin, valued at $8 billion.
- Hundreds arrested in international crackdown on scam operations.
- Starlink suspended 7,000 terminals used by scammers in Myanmar.
An extensive international operation led by the FBI has resulted in the seizure of a record-setting $8 billion in cryptocurrency and the arrest of hundreds of individuals involved in global scam compounds. This crackdown targeted organized criminal enterprises, including the 'Democratic Karen Benevolent Army,' which allegedly defrauded Americans.
The FBI confiscated more than 127,000 bitcoin, a forfeiture valued at over $8 billion, marking a significant victory against transnational crime. The operation spanned Asia, Africa, and the Middle East, with compounds specifically targeting U.S. citizens. In Thailand, authorities seized thousands of smartphones and office equipment, while in Dubai, nine compounds, each allegedly profiting $6 million annually, were raided, leading to 275 arrests.
As part of the efforts, the FBI partnered with Elon Musk's Starlink, providing geolocation data that led to the suspension of over 7,000 Starlink terminals in Myanmar. These terminals were allegedly used by scammers. The FBI emphasized their commitment to disrupting these networks and bringing perpetrators to justice, regardless of their location.
