U.S. Seeks Forfeiture of $225.3 Million in Cryptocurrency Tied to Investment Fraud
On Wednesday, June 18, 2025, the Department of Justice filed a civil forfeiture complaint in the U.S. District Court for the District of Columbia, targeting over $225.3 million in cryptocurrency linked to investment fraud and money laundering.
The complaint alleges that the funds were part of a complex blockchain-based network used to conceal proceeds from cryptocurrency investment scams, often called “crypto-confidence scams.”
Law enforcement utilized blockchain analysis and other investigative methods to trace the cryptocurrency to addresses involved in the theft and laundering of funds from victims. The network allegedly executed hundreds of thousands of transactions, dispersing illicit proceeds across numerous cryptocurrency addresses and accounts to obscure their origins.
The investigation, led by the FBI and the U.S. Secret Service (USSS) San Francisco Field Office, identified over 400 suspected victims who believed they were making legitimate cryptocurrency investments.
According to the FBI’s 2024 Internet Crime Report, cryptocurrency investment fraud resulted in over $5.8 billion in reported losses last year. The seizure of $225.3 million marks the largest cryptocurrency seizure in USSS history.
The Department of Justice acknowledged the assistance of Tether, a private partner, in supporting the investigation. The case is being handled by Trial Attorneys Stefanie Schwartz and Ethan Cantor of the Justice Department’s Computer Crime and Intellectual Property Section, along with Assistant U.S. Attorneys Kevin Rosenberg and Rick Blaylock Jr. for the District of Columbia.
Authorities are encouraging individuals who believe they may have been victims of these cryptocurrency scams to contact the FBI’s Internet Crime Complaint Center at www.ic3.gov. Those filing complaints related to this case are advised to include the code “BT06182025” in the narrative and reference any prior related complaints.
“Today’s civil forfeiture complaint is the latest action taken by the Department to protect the American public from fraudsters specializing in cryptocurrency-based scams, and it will not be the last,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “These schemes harm American victims, costing them billions of dollars every year, and undermine faith in the cryptocurrency ecosystem. Our investigators and prosecutors are relentlessly pursuing these scammers and their ill-gotten gains, and we will relentlessly pursue recovery of victim funds.”
