Cryptocurrency Financial Blockade Event Warning: Over $225 Million Seized
In one of the largest cryptocurrency busts in U.S. history, authorities seized more than $225 million in USDT, a shocking case that sheds light on a dark world of cybercrime, human trafficking, and organized crime.
Disrupting Money Laundering & Fraud Networks In The Blockchain World
This criminal network originated from a global money laundering network, including fake exchanges, and numerous human rights violations stretching from the United States to Southeast Asia. Notably, they took advantage of blockchain technology to conceal their illegal activities, causing hundreds of millions of dollars in losses to legitimate investors.
The Raid That Made History
Record Seizure in the History of US Authorities
Using digital forensic tools, the Financial Protection Bureau confirmed this was the largest seizure in history. The assets, all in USDT, were found to be linked to a sophisticated blockchain-based money laundering network.
Investigations Start From Suspicious Transaction Accounts
The case began with OKX reporting 144 suspicious accounts, which led authorities to begin proceedings to uncover a global fraud ring that had damaged hundreds of users.
Scams Through Fake Trading Platforms
Cryptocurrency Trading Fraud Firm Exploits Virtual Investment
These fake websites impersonate real exchanges and lure investors into transferring funds. Their funds then disappear, leaving victims with millions of dollars in losses.
Victims Lost Nearly $19 Million
Among the victims was Shan Hanes, a former bank CEO who withdrew more than $47 million to invest in the scam. The fraudulent transaction was part of a large-scale, transnational network.
Pressure on Participants to Induce Fraudulent Transactions
Investigation Activities Using Oppressive and Coercive Tactics
The law confirms that these activities mainly take place from Southeast Asia. Victims are forced to pose as investors or romantic partners on dating platforms to lure other victims.
Exchange and Receive Information at "Waterfall Demolition Zones" in Myanmar, Cambodia, Laos and the Philippines
Victims are detained in these areas, forced to engage in fraudulent activities on digital platforms, opening up a particularly sophisticated cross-border crime chain.
Distinctive Features From The Philippines In The Fraud Network
Digital Footprints Concentrated in the Philippines
Despite the global scope of the operation, the majority of the traces originate in the Philippines. The accounts in question all have IP addresses from that country, indicating a sophisticated organization.
US Companies – Involved in Malicious Activities
Several entities in the Philippines such as Infiniweb Technology Inc. have been behind the scams; linked to organizations involved in human trafficking, offshore gambling, and other illegal activities.
Impact & Significance of This Case for the Cryptocurrency Community
Raising Awareness About Security In Cryptocurrency Transactions
This incident highlights the importance of preventive measures, improving legislation and strengthening control over cryptocurrency-related activities.
Promoting Rigor in Legal and Cybersecurity Work
Cryptocurrencies are increasingly being targeted by criminal organizations, a wake-up call for authorities to step up their defenses and handle more complex cases than ever before.
Source: https://tintucbitcoin.com/lien-ket-tien-dien-tu-my-va-buon-lau/
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