BroadChain News, April 25, 11:11, according to Bitcoinist, the US Scam Center Strike Force launched a large-scale operation on Thursday, freezing over $700 million in cryptocurrency linked to investment scams targeting American victims. The US State Department has also offered a $10 million reward for intelligence that disrupts the Tai Chang scam center in Myanmar.
During the operation, authorities seized over 500 fake investment websites and took down a Telegram channel used to recruit job seekers into crypto scam centers in Cambodia. Two Chinese citizens, Huang Xingshan and Jiang Wenjie, have been indicted and arrest warrants issued for allegedly operating crypto investment scams at the Shunda scam center in Myanmar.
In a parallel month-long operation, the Singapore Police collaborated with exchanges such as Coinbase and Gemini, as well as blockchain analytics firms like TRM Labs and Chainalysis, preventing over $2.86 million in potential losses and directly intervening with more than 90 scam victims. In 2025, the FBI received over 1 million cybercrime complaints, with total losses exceeding $20 billion.
While the $701 million frozen in this operation is substantial, it represents only a fraction of the total amount already lost.