The newest FBI seizure resulted in over $6 million in crypto paid by American citizens after a scam operating out of Southeast Asia.
Assistant Director Chad Yarbrough of the FBI's Criminal Investigative Division told reporters that such crypto fraud schemes have disastrous impacts on Americans, underlining how important continued efforts are to stop these schemes that affect United States citizens
According to the FBI announcement on September 26, fraudsters created the impression among victims that they were investing in actual projects, which, over time, seriously hurt the people involved in the transactions.
FBI's Yarbrough: Crypto Scams 'Devastating' to US, Millions Lost
Assistant Director Chad Yarbrough of the FBI's Criminal Investigative Division told reporters that such crypto fraud schemes have disastrous impacts on Americans, underlining how important continued efforts are to stop these schemes that affect United States citizens. He also added that this FBI seizure is one of the largest in this year.
This incident epitomizes the growing challenges in fighting fraud related to cryptocurrencies in an ever-increasingly globalized market.
Yarbourgh commented in a press release:
"These types of schemes are devastating, and they're impacting thousands of Americans every day. The FBI has seen victims lose millions of dollars, take second and third mortgages on their homes, all in the hopes of finding the next big investment opportunity."
