US regulator seizes over $ 584 million in cryptocurrency from Chinese hackers

U.S. law enforcement officials have announced the seizure of more than $ 584.7 million in cryptocurrency linked to fraud centers in Southeast Asia controlled by transnational criminal groups based in China.

The operation is part of the Strike Force, established in 2025 under the leadership of the U.S. Attorney’s Office for the District of Columbia in cooperation with the U.S. Department of Justice, the FBI, the Secret Service, and the IRS Criminal Division. Its goal is to eliminate cryptocurrency investment fraud schemes known as «pig butchering.»

According to the investigation, the criminal networks operate from large fraudulent complexes in Cambodia, Laos, and Myanmar, using infrastructure and social platforms in the United States to attract victims. The fraudsters build trust with the targets and then direct their funds to fake investment platforms they control.

Prosecutor Janine Ferris Pirro said that the seizure is an important step in undermining the financial foundation of Chinese organized crime groups. Authorities plan to begin confiscation procedures to return the funds to the victims. In parallel, the Strike Force is working to disable the infrastructure in the United States that supports the activities of fraudsters, including domains, social media accounts, and financial channels.

It is estimated that the cryptocurrency fraud industry costs Americans nearly $ 10 billion annually. In a number of Southeast Asian countries, revenues from such centers account for a significant share of GDP.