The U.S. Department of Justice has announced that it has seized over $112 million in virtual currency accounts allegedly linked to cryptocurrency investment scams.
US Department of Justice Seizes Wallets With $112 Million In Cryptocurrency
Ministry of Justice; The District of Arizona received confiscation orders for six virtual currency accounts, which were approved by judges in the Central District of California and the District of Idaho.
According to court documents, these virtual currency accounts were used to launder proceeds from various cryptocurrency investment scams. In these scam schemes, scammers connect victims online and eventually convince them to invest in fake cryptocurrency trading platforms.
The funds sent by the victims were then transferred to cryptocurrency addresses and accounts controlled by the scammers and their collaborators.
Kenneth A. Polite Jr., Assistant Attorney General of the Justice Department's Criminal Division. On the subject he said:
“Cross-border criminal organizations combine trust fraud with technological prowess to defraud Americans of their hard-earned money. These very bad scams, in which scammers carefully developed relationships with their victims over time, devastated families and cost individuals lives. Now that we have captured this virtual currency, we will try to quickly return it to victims.”
According to the FBI, scammers often target victims between the ages of 30 and 49 using social networks and online communication platforms, dating sites, and phone calls and text messages that appear to be misdialed.
*Not investment advice.
