US authorities seize over $112 million linked to crypto scam schemes
The US Department of Justice has closed six cryptocurrency accounts with roughly $112 million. The wallets are reportedly linked to Arizona, California, and Idaho crypto scam schemes.
Arizona, California, and Idaho-based scam crypto investment scheme orchestrators have hit a brick wall. The Department of Justice (DoJ) has seized six wallets containing about $112 million in crypto belonging to the bad actors.
According to the local news source, the scammers built long-term relationships with their victims via online channels, eventually luring them into investing in phony crypto trading platforms. The seized crypto wallets were used to launder the proceeds of various scam schemes in the region.
Commenting on the matter, Kenneth A. Polite Jr. of the DoJ’s criminal division reiterated that the scam schemes have succeeded in devastating victims, some of whom may have invested their life savings in them. The DoJ plans to return the funds to their rightful owners.
Victims are advised to contact their local FBI field office and give factual information concerning their involvement in the scams, including transaction hashes and bank account information.
In related news, US Senator Elizabeth Warren recently renewed her anti-crypto stance, urging the government to increase its oversight in the sector or ban digital assets entirely.