Key facts
- Coinbase froze over $3.8 million in cryptocurrency.
- The frozen assets are tied to Southeast Asian scam networks.
- The action is part of a wider fraud crackdown led by the DOJ's Scam Center Strike Force.
- Over 1.4 million scam social media and email accounts were disrupted.
- Meta, Microsoft, and Starlink helped take down servers and hosting tools.
Coinbase has frozen over $3.8 million in cryptocurrency linked to scam networks operating in Southeast Asia. This action is part of a broader "Disruption Week" initiative led by the U.S. Department of Justice's Scam Center Strike Force, aimed at dismantling global fraud rings. The operation involved a multi-agency and private sector collaboration, including social platforms, financial institutions, connectivity providers, and law enforcement. Private firms like Meta, Microsoft, and Starlink assisted in taking down servers and hosting tools, while over 1.4 million scam social media and email accounts were disrupted. The Royal Thai Police Anti-Cyber Scam Center also made arrests. The DOJ highlighted that these criminal organizations have defrauded Americans of billions of dollars, with investment fraud and pig butchering scams being particularly damaging. In a similar effort in April, over $701 million in crypto tied to investment scams was restrained. Coinbase emphasized that blockchain provides a permanent record of transactions, countering the notion that crypto is solely a tool for crime. The coalition included agencies like the FBI and U.S. Secret Service, along with international law enforcement partners.