TL;DR
- U.S. agencies form a new task force targeting crypto scams.
- The operation focuses on Chinese-linked investment schemes in Southeast Asia.
- Scammers use fake platforms to steal funds from American victims.
U.S. agencies from the US Department of Justice, the FBI, and the Secret Service formed an interagency task force. The Scam Center Strike Force will concentrate its operations on cryptocurrency scams linked to Chinese transnational criminal organizations. These networks target US citizens from operational centers in Southeast Asia.
US Attorney Jeanine Ferris Pirro introduced the new unit in an announcement broadcast on YouTube. Pirro stated that the primary objective is to protect Americans from investment fraud operations. She specified that criminals behind these scams use everyday devices and platforms for their activities. “Scam centers are creating a generational wealth transfer from Main Street America into the pockets of Chinese organized crime” Pirro claimed.
The Scam Method and Its Financial Impact
According to the attorney, the fraud schemes begin with social engineering through social media or text messages. Scammers build a relationship of trust with victims over a period. They then encourage them to invest in cryptocurrency tokens presented as legitimate opportunities with high profit potential.
Once trust is gained, they persuade victims to transfer funds to fraudulent websites or applications. These platforms mimic legitimate cryptocurrency exchanges. Many of these services use companies with hosting inside the United States, but the transferred funds are laundered into accounts outside US jurisdiction.
Federal authorities report the seizure of more than $400 million in cryptocurrency so far. Gregory Heeb, Deputy Assistant Director of the FBI, confirmed the agency will collaborate with global partners to stop cybercriminals.
Kyo Dolan, Assistant Director of the Secret Service, added that these cryptocurrency investment scams have grown tenfold since 2019. Dolan specified that his agency responded to approximately 3,000 victims in fiscal year 2025 alone.
The criminals often operate from compounds in Southeast Asian countries. Reports indicate that many workers in these centers are victims of human trafficking, held against their will, and guarded by armed groups. The task force is coordinating international efforts to recover the stolen funds and return them to victims.
