FBI Seizes $8 Billion in Crypto, Arrests Nearly 300 in Global Scam-Compound Crackdown
Updated
Updated · Fox News · May 28
FBI Seizes $8 Billion in Crypto, Arrests Nearly 300 in Global Scam-Compound Crackdown
2 articles · Updated · Fox News · May 28
$8 billion in cryptocurrency — including more than 127,000 bitcoin tied to Cambodian businessman Chen Zhi — was seized in what the FBI called the largest forfeiture in U.S. government history.
Nearly 300 suspects were arrested across Operation Blackout, with 275 detained in Dubai alone after raids on nine compounds allegedly generating about $6 million a year each.
The crackdown targeted scam compounds in Asia, Africa and the Middle East linked to Chinese organized crime and Myanmar's sanctioned DKBA, which the FBI says stole from Americans and used trafficked labor.
Starlink suspended more than 7,000 terminals in Myanmar after receiving FBI geolocation data, while agents also freed nearly 2,000 trafficked workers and seized thousands of phones and other devices.
IC3 logged nearly 72,000 crypto-investment fraud complaints in 2025 with losses above $7.5 billion, and the FBI says its victim-alert program has already prevented another $562 million in losses.
Beyond seizing assets, what can disrupt the crypto networks that fuel these multi-billion dollar scam empires?
How can law enforcement stay ahead as criminals weaponize advanced AI for increasingly sophisticated global scams?
As scam compounds globalize, is the world facing an unstoppable new wave of tech-driven human trafficking?
$20 Billion Lost to Crypto Scams: Inside the April 2026 Global Crackdown and the Battle Against Pig-Butchering Fraud
Overview
In April 2026, global law enforcement agencies—including the FBI, Dubai Police, and the Chinese Ministry of Public Security—launched a major operation targeting cryptocurrency investment fraud. This unprecedented crackdown led to numerous arrests, the dismantling of multiple scam centers, and the disruption of significant illicit activities. The main focus was on 'pig-butchering' scams, where criminals build trust with victims before stealing their investments. Following this, U.S. authorities established the Scam Center Strike Force and seized $15 billion from the Prince Group, a criminal organization that stole billions from Americans through crypto scams. These actions mark a strong, coordinated response to global financial crime.