Florida Seizes $1.5M in Dogecoin, Pepe and Solana Over Case Tied to Chinese National
Florida prosecutors have seized approximately $1.5 million in cryptocurrency traced to a wallet allegedly controlled by Tu Weizhi, a Chinese national charged with money laundering, grand theft, and organized fraud after a Citrus County resident lost $47,421 in an online investment scam in July 2024. Investigators extended the seizure to the wallet’s entire balance, containing AVAX, DOGE, PEPE, and SOL tokens. Tu remains in China and risks arrest if he enters the U.S. Authorities used Florida’s fugitive disentitlement framework, which permits asset seizure when a defendant evades U.S. jurisdiction. This approach prevents suspects from contesting forfeiture unless they face charges in person. The case highlights law enforcement’s increasing ability to trace and recover crypto assets using blockchain transparency, despite changing scam tactics. Recent data shows a surge in investment fraud involving crypto assets, with billions lost nationwide in 2024.
