U.S. seeks forfeiture of $25 million in crypto tied to romance and investment scams
The U.S. government is seeking the forfeiture of $25 million in cryptocurrency linked to over 270 investment and romance scams. These cases, investigated by the Secret Service, involve funds traced through hundreds of wallet addresses as part of a broader effort by the Scam Center Strike Force.
Why it matters
This underscores the growing scale of financial fraud in the digital asset space and the increasing success of federal task forces in tracking illicit crypto transactions.
The complaints, filed in U.S. District Court for the District of Columbia, stem from separate Secret Service investigations .
Agents traced funds through hundreds of wallet addresses and frozen crypto linked to more than 270 suspected investment scam transactions, more than 200 romance scam victims and several victims in the Washington area, according to the U.S. Attorney’s Office.
The two largest cases seek about $12.1 million tied to online romance schemes and $10.4 million linked to fraudulent investment platforms. Another three complaints seek roughly $1.23 million, $2.39 million and $285,000.
In one case, scammers cut off contact after a victim tried to withdraw money from what appeared to be a crypto investment account. In another, fraudsters contacted someone who had already lost money and claimed they could recover it for a fee in what’s known as a recovery scam.
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