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DOJ Seizes $112M Tied to Cryptocurrency Schemes

The U.S. Department of Justice (DOJ) said in a March 3 announcement that it has seized $112 million worth of digital assets tied to crypto investment scams.

Specifically, the agency seized six crypto accounts across three states in the District of Arizona, the Central District of California, and the District of Idaho.

Those cryptocurrency accounts were allegedly used to launder funds from scams. The perpetrators gradually earned the trust of their victims through social networks, dating websites, phone calls, and so on. Ultimately, the perpetrators convinced their targets to invest in cryptocurrency platforms and funneled the funds to their own addresses.

(by Mike Dalton)

Cryptocurrency
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