Federal task force aims to recover funds from scams.
U.S. federal prosecutors are pursuing the forfeiture of over $25 million in cryptocurrency linked to various scams, including romance and investment frauds targeting victims in the U.S. and Canada. This action involves five civil cases filed in the U.S. District Court for the District of Columbia, with investigations led by the Secret Service.
Authorities traced the cryptocurrency through multiple wallet addresses, identifying connections to more than 270 suspected investment scams and over 200 romance-related fraud cases. The U.S. Attorney’s Office highlighted that the largest claims stem from approximately $12.1 million tied to online romance scams and about $10.4 million from fraudulent investment schemes. Additional claims range from $285,000 to $2.39 million.
Notably, in some instances, scammers ceased communication when victims attempted to withdraw funds, and others preyed on individuals who had already suffered losses by offering false recovery services for a fee, indicative of recovery scams.
