• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Cryptos

FBI seizes $6m from crypto scammers targeting US citizens  

Michael Ndu-Okeke by Michael Ndu-Okeke
September 29, 2024
in Cryptos, Markets
FBI arrests Nigerian, Abidemi Rufai for $350,000 Covid-19 unemployment benefits fraud
Share on FacebookShare on TwitterShare on Linkedin

Men of the Federal Bureau of Investigation (FBI) have seized $6 million worth of crypto assets from Southeast Asian scammers who were defrauding Americans with confidence investment schemes.

The scammers were based in Southeast Asia and were able to pull off their schemes on US citizens from there.

The US Attorney’s Office for the District of Columbia raised alarm on the growing cases of fraud in the country stating that one or more individual’s lost millions of dollars after they were sold on investment schemes that appeared legitimate.

RelatedStories

Federal Bureau of Investigation (FBI)

FBI offers $10,000 reward for Nigerian wanted over fraud in the US 

September 25, 2025
America flag on flag pole waving

US cancels over 6,000 student visas in 2025 amid Trump administration crackdown 

August 20, 2025

The FBI during its investigations traced the stolen funds on the Blockchain and fished out multiple crypto addresses linked to the scam and were still holding over $6 million of the victim’s digital assets.

The US Attorney’s Office for the District of Columbia announced the development in a recent press release.

“The United States seized over $6 million worth of cryptocurrency from perpetrators overseas. The perpetrators in Southeast Asia targeted one or more individuals in the United States and fraudulently obtained millions of dollars’ worth of cryptocurrency through a cryptocurrency confidence investment scheme. 

The FBI was able to trace victim funds on the blockchain and located multiple cryptocurrency wallet addresses which still held victim funds totaling more than $6 million. 

Cryptocurrency confidence investment schemes begin with criminals contacting potential victims through seemingly misdirected text messages, dating applications, or professional meetups or investment groups. Next, using various means of manipulation, the criminal gains the victim’s affection and trust.” The US Attorney stated.

FBI Assistant Director Chad Yarbrough commented on the development too lamenting the damage such scams are causing to hardworking Americans.

These types of schemes are devastating, and they’re impacting thousands of Americans every day,” “The FBI has seen victims lose millions of dollars, and take second and third mortgages on their homes, all in the hopes of finding the next big investment opportunity.  

The seizure of millions of dollars is proof the FBI will stop at nothing to find these fraudsters who insist on taking advantage of the American public. It doesn’t matter where they are, we will leverage all of our resources and work with our partners domestically and internationally to stop them from stealing people’s hard-earned money.”  

Global stablecoin issuer Tether said that it assisted the FBI in the operation by freezing the accounts of the scammers leading to the FBI recovering the funds.

The US attorney’s office confirmed that the majority of the victims of the scam were approached through unsolicited messages, dating apps, and investment groups.

After building up the confidence and Trust of the user the scammers invite them to invest in fraudulent investment schemes which are usually clones of legitimate ones.

The victims in the long run lose all the money that they set aside for the investment.

What to Know  

  • Investment fraud was the most reported crypto scam and saw the most reported losses, with over $3.9 billion stolen by scammers.
  • The scamming technique discussed in the article is known as Pig Butchering and is quite common in Southeast Asia.

Follow us for Breaking News and Market Intelligence.
Tags: CryptoscamFBIUnited States Of America
Michael Ndu-Okeke

Michael Ndu-Okeke

I am Michael Ndu-Okeke, a crypto reporter and analyst covering the intriguing world of Cryptocurrencies and its market. My work focuses on informative news, industry trends and research explaining the crypto industry to a wide range of readers.

Related Posts

Federal Bureau of Investigation (FBI)
Business News

FBI offers $10,000 reward for Nigerian wanted over fraud in the US 

September 25, 2025
America flag on flag pole waving
Education

US cancels over 6,000 student visas in 2025 amid Trump administration crackdown 

August 20, 2025
Federal Bureau of Investigation (FBI)
Business News

Nigerian man extradited to U.S. over multimillion-dollar hacking and fraud scheme 

August 6, 2025
America flag on flag pole waving
"Japa"

United States announces lifetime entry ban for visa fraud involving fake documents 

July 21, 2025
US commences Lottery Program for 2025, Nigeria, others excluded 
"Japa"

US introduces new $250 visa integrity fee for workers, students, others

July 10, 2025
America flag on flag pole waving
"Japa"

U.S. introduces new policy allowing startup founders to self-sponsor H-1B visas  

June 30, 2025
Next Post

FG orders probe into ticket racketeering allegations on Abuja-Kaduna rail route 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

arco
Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • SWOOT Stocks Surge: Nigeria’s N1 Trillion Club Starts October Strong
  • These stocks are the best performing stocks in 2025 so far
  • Tetracore Energy Group announces the appointment of Dayo Williams to Managing Director, Subsidiaries

Follow us on social media:

Recent News

SWOOT Stocks Surge: Nigeria’s N1 Trillion Club Starts October Strong

SWOOT Stocks Surge: Nigeria’s N1 Trillion Club Starts October Strong

October 8, 2025
These stocks are the best performing stocks in 2025 so far

These stocks are the best performing stocks in 2025 so far

October 8, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics