The Federal Bureau of Investigation (FBI) has announced the seizure of a record $8 billion in cryptocurrency and the arrest of hundreds of suspects during a major international operation targeting organized crime groups linked to online fraud and scam compounds.
According to officials, the crackdown focused on networks accused of defrauding victims, particularly in the United States, through sophisticated online schemes. Authorities revealed that some victims lost millions of dollars, including one case involving losses of up to $3 million.
A key development in the operation involved the arrest of Chen Zhi, chief executive of Prince Holding Group in Cambodia. Investigators confiscated more than 127,000 bitcoin connected to the case, making it the largest asset forfeiture in US government history. Chen faces charges related to wire fraud and money laundering conspiracy.
International Raids Lead to Arrests and Victim Rescues
Meanwhile, law enforcement agencies conducted coordinated raids across Asia, Africa, and the Middle East. In Dubai, authorities arrested 275 individuals, while operations in Thailand resulted in the seizure of thousands of smartphones and other equipment allegedly used in fraudulent activities.
Furthermore, the FBI said it helped rescue nearly 2,000 people believed to have been trafficked and forced to work in scam centers. Investigators alleged that criminal groups lured workers with promises of employment before subjecting them to coercion and abuse.
The operation, known as “Operation Blackout,” included several investigations targeting criminal organizations operating in Cambodia, Myanmar, Thailand, and the United Arab Emirates.
Additionally, the FBI partnered with Starlink to identify and disable more than 7,000 internet terminals allegedly linked to fraudulent operations.
Through a separate initiative called “Operation Level Up,” authorities warned thousands of potential victims about cryptocurrency scams, preventing an estimated $562 million in losses.
Officials said investigations remain ongoing as authorities continue efforts to dismantle international fraud networks.
