TLDR
- The DOJ coordinated a joint anti-scam operation with Coinbase, Meta, and SpaceX.
- Private companies froze more than $3.8 million in cryptocurrency linked to fraud.
- Authorities disrupted over 1.4 million online accounts and malicious infrastructure.
- The operation led to seven arrests in Thailand and new investigations.
- IC3 data shows crypto investment fraud losses exceeded $7.2 billion in 2025.
U.S. authorities launched a coordinated anti-scam campaign with major technology and crypto firms to disrupt online fraud networks. The U.S. Department of Justice said private companies froze $3.8 million in cryptocurrency tied to investment scams. Officials also dismantled millions of online accounts and infrastructure linked to transnational crime groups operating in Southeast Asia.
Coinbase and Tech Firms Freeze $3.8 Million in Crypto
The Justice Department convened federal agencies and private companies in Washington from May 18 to May 21. Participants included the FBI, the U.S. Secret Service, and Homeland Security Investigations. Representatives from Apple, Coinbase, Google, Meta, Microsoft, Silent Push, SpaceX, TRM Labs, and Zenlayer joined the meetings.
Officials described the effort as a coordinated disruption targeting cyber-enabled investment fraud. The department said private companies voluntarily froze more than $3.8 million in cryptocurrency. Authorities also interrupted more than 1.4 million social media, email, and internet access accounts.
Meta helped coordinate participation across private sector partners during the campaign. Foreign law enforcement agencies from Australia, Canada, New Zealand, Thailand, and the UK joined the effort. The department said the actions disrupted malicious IP traffic and scam-linked network connections.
International Arrests and Expanding Investigations
Authorities said the initiative resulted in seven arrests in Thailand. The Royal Thai Police Anti-Cyber Scam Center opened new cases tied to the disruption. U.S. officials also referred several matters for domestic investigations.
The department said many scam operations run from compounds in Cambodia, Laos, and Burma near the Thai border. Officials stated that trafficked workers often conduct fraud under threats of violence. The department added that its Scam Center Strike Force filed criminal complaints and seized crypto and infrastructure.
FBI Internet Crime Complaint Center data shows investment scams ranked as the most reported crime in 2023. The Justice Department said cryptocurrency investment fraud accounted for 83% of that category. Reported losses rose from $3.96 billion in 2023 to $5.8 billion in 2024.
The newly released IC3 annual report shows losses increased another 24% in 2025 to more than $7.2 billion. Officials said victims often deposit funds into fake platforms showing fabricated returns. Contact typically stops once victims exhaust funds or uncover the fraud.
Earlier reporting on Coinbase stock showed shares traded below key moving averages. The analysis pointed to a $160 to $175 range and risk of further downside. Coinbase recently expanded partnerships, including work with Ethena and efforts to align stablecoin reserves with regulatory standards.
