US prosecutors seize over $1 billion in crypto tied to international scam networks

On October 27, U.S. Attorney for the District of Columbia Jeanine Ferris Pirro announced the seizure of more than $1 billion in cryptocurrency connected to fraud rings operating out of Southeast Asia. The networks have extended their reach into Africa and Europe.

The Justice Department task force, launched in November 2025, froze $580 million in its first three months and took down 700 fake investment platforms and Telegram channels. The latest action against Xinbi Guarantee pushed the total frozen amount to roughly $938 million.

Separately, six people were charged in a Madagascar-linked scheme that used fake romance profiles and NFT investment lures to drain funds from roughly 800 American victims via 74 identified wallets. The stolen crypto reportedly flowed to accounts tied to individuals in China.

On September 3 the U.S. and U.K. signed a pact for joint probes, and on October 23 Zheng Zhao was extradited from the Netherlands to face charges in California over a separate Cambodia-based scam that targeted 174 U.S. victims.

Based on information from cryptonews.net