US recovers $2.5 million in crypto from schemes that win market FOMO

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Federal agents have recovered $2.5 million in crypto from fraudulent investment schemes, highlighting their aggressive driving forces to restore trust and integrity across the digital asset market.

Federal agents have frozen millions with code – where did they find it?

The U.S. Department of Justice (DOJ) announced on May 23 that it had secured the confiscation of approximately $2.5 million in digital currency related to a fraudulent investment scheme that misused growing interest in cryptocurrencies. The order celebrates other efforts by federal authorities to return assets to the US, ensure the integrity of financial markets and protect participants from deception. The FBI’s San Diego Field Office conducted the survey.

DOJ details:

US District Judge Amir H. Ali ordered the confiscation of approximately $2.5 million worth of cryptocurrency involved in the cryptocurrency trust plan to the United States.

This latest enforcement action strengthens DOJ’s commitment to protecting legitimate investment activities in the digital asset sector. Often, target schemes pose as authentic crypto investment opportunities have sought to lure individuals with the promise of high returns.

FBI special agent for Stacey Moy at the San Diego Field Office highlighted the maneuverability of the operation, saying “cryptocurrency trust plans scam and manipulate vulnerable victims to lose catastrophic amounts of money.” He added:

I hope that today’s announcement will provide victims with a measure of justice and serve as a reminder. The FBI hopes to hold fraudsters accountable wherever they are.

This case shows how fraudsters continue to leverage market enthusiasm and how law enforcement is adapting to address challenges. For investors, the case sends a strong message that US regulators are focusing on maintaining a fair environment for digital asset participation. With cooperation from international partners, including Tether, and private sector involvement, federal agencies are increasingly proving that they can track, seize, and redistribut illicit profits.