Coinbase freezes $3M tied to Southeast Asia crypto fraud networks
Coinbase froze over $3 million in crypto tied to a global crackdown on cyber-enabled crypto scam networks in Southeast Asia. The effort was part of the DOJ’s Scam Center Strike Force “Disruption Week” and involved Coinbase, Meta, Microsoft, Starlink, the FBI, the US Secret Service, and law enforcement in several countries. The coalition targeted scam operations across the fraud chain by taking down servers and hosting infrastructure, disrupting more than 1.4 million social media and email accounts, and enabling arrests by Thai police. The main targets were investment fraud and “pig butchering,” which the DOJ says are among the fastest-growing and most damaging scams affecting Americans. Coinbase said blockchain’s transparency helps law enforcement track illicit activity. The action followed other major international crackdowns this year on crypto scam centers and related infrastructure.
