The Federal Bureau of Investigation (FBI) has seized over US$6 million worth of cryptocurrency from international perpetrators involved in fraudulent investment schemes, according to an official announcement.

Matthew M. Graves, the US Attorney for the District of Columbia, in collaboration with US Attorney Francis M. Hamilton III for the Eastern District of Tennessee, Principal Deputy Assistant Attorney General Nicole M. Argentieri, the head of the Criminal Division, and FBI Special Agent in Charge Joseph E. Carrico of the Knoxville Division, have jointly disclosed the operation.

These criminals, operating from Southeast Asia, targeted people in the US through schemes promising investments in cryptocurrency, fraudulently taking millions by taking advantage of people’s trust.

The FBI followed the trail of the stolen money on the blockchain, finding several addresses on the cryptocurrency ledger that contained more than $6 million belonging to the victims.

Cryptocurrency confidence investment schemes usually start with scammers reaching out to potential victims through text messages, dating apps, or groups for professionals in investments.

“In these scams, fraudsters trick U.S. citizens into believing they are transferring funds to legitimate investment opportunities when, in fact, they are unwittingly handing their money to the perpetrators,” said U.S. Attorney Graves. 

Adding to it, U.S. Attorney Graves said, “Despite these fraudsters operating from outside the United States, we, along with the FBI, are committed to recovering these funds and holding those responsible accountable.”