Summary
- Companies such as Coinbase, Apple, and SpaceX collaborated with government entities to combat cryptocurrency fraud.
- This partnership resulted in the freezing of over $3.8 million in illicit crypto and the disruption of 1.4 million social media and email accounts linked to scams.
- According to the FBI's Internet Crime report, U.S. citizens lost nearly $11.4 billion to crypto fraud schemes last year.
Thanks to the collective efforts of leading firms like Coinbase, SpaceX, Meta, and Apple, along with law enforcement both domestically and internationally, more than $3.8 million in stolen cryptocurrency has been frozen.
The initiative by the U.S. Department of Justice, referred to as "Disruption Week," brought together private companies and government agencies to target organized crime operations in Southeast Asia.
“Cyber-enabled and crypto investment fraud is devastating Main Street Americans, wiping out life savings and preying on some of our most vulnerable citizens,” stated Jeanine Pirro, U.S. Attorney for DC, in her remarks.
“We will not permit transnational scammers or the Chinese organized crime groups behind them to exploit America’s internet infrastructure or allow U.S. companies to remain passive,” she emphasized.
During this collaboration, which also saw involvement from Google, Meta, and Microsoft, private sector companies proactively disrupted millions of social media and email accounts utilized by criminals. With the assistance of governmental data, these firms were then able to freeze the illicit funds.
“Disruption Week demonstrates what can be achieved when government and industry collaborate: millions of scam accounts interrupted and criminal networks displaced from the U.S. internet platforms they depend on,” said Pirro.
The “Scam Center Strike Force” convened in Washington D.C. from May 18-21, sharing intelligence that resulted in the freezing of over $3.8 million, the disruption of more than 1.4 million accounts, and the identification of scammers, including the arrest of seven individuals in Thailand.
“One of our most effective tools in combating these illicit actors is our partnerships, which are only becoming stronger,” remarked FBI Director Kash Patel.
“We’re preventing further victimization by collaborating with other agencies, our international law enforcement partners, and the private sector who all participated in this Disruption Week,” he added.
The FBI’s internet crime report revealed that Americans incurred losses of nearly $11.4 billion due to crypto fraud in 2025, marking a 22% increase from the previous year.
Earlier this year, cryptocurrency companies like Coinbase, Kraken, and Binance worked alongside authorities in the U.S. and U.K. to identify approximately $45 million in funds connected to crypto fraud, successfully freezing $12 million in the process.