The U.S. Department of Justice takes a series of coordinated actions against Southeast Asian criminal organizations to freeze more than $700 million in cryptocurrencies

On April 24, according to an official announcement from the U.S. Department of Justice, the U.S. Department of Justice's "Fraud Center Strike Team" today announced a series of coordinated actions against criminal organizations in Southeast Asia: prosecuting two China managers who worked in the "Shunda Fraud Center" in Myanmar. Huang Xingshan and Jiang Wenjie were suspected of forcing trafficked workers to engage in cryptocurrency investment fraud and have been arrested in Thailand; The seizure of a Telegram channel with more than 6000 followers, which was used to lure people to go to fraud centers in Cambodia to engage in forced labor; 503 fraudulent domain names disguised as legitimate investment platforms were simultaneously seized. At the financial level, the team has frozen more than US$701 million in cryptocurrency suspected of being related to fraudulent money laundering and notified 8935 victims through the "OperationLevelUp" operation, estimated to have recovered approximately US$563 million in potential losses. In addition, the U.S. State Department announced that it would provide rewards of up to US$10 million to collect clues related to Myanmar's "Taichang Fraud Center"; the Ministry of Finance simultaneously imposed sanctions on relevant individuals and entities in Cambodia. According to FBI data, U.S. cryptocurrency investment fraud losses have risen to US$7.2 billion in 2025, an increase of 24% from 2024.