US Multi-Agency Task Force Targets Scam Networks
In November 2025, the US Department of Justice launched a coordinated operation with multiple federal agencies to combat the surge in 'pig-butchering' scams originating from Southeast Asia. To date, over $580 million in crypto assets have been frozen or seized.
Focus on Scam Hubs in Southeast Asia
The operation primarily targets transnational fraud groups operating in Myanmar, Cambodia, and Laos. These criminal organizations use social engineering tactics to lure victims into cryptocurrency investments before manipulating funds through fake trading platforms.
Asset Recovery and Victim Compensation in Progress
Prosecutor Jeanine Pirro stated that all seized assets will be processed through legal channels, with efforts to return funds to victims. The US Treasury previously imposed sanctions on 19 entities in Myanmar and Cambodia, as these scams caused over $10 billion in global losses in 2024.
Industry View: Current Results Represent Just a Fraction
The CEO of blockchain analytics firm Cyvers noted that while the $580 million seizure is significant, it remains a small fraction of the global crypto fraud landscape. Cyvers has identified approximately 27,000 active criminal groups, with potential fraud exposure reaching $27.5 billion.
Scam Networks Show Decentralized Trends
US officials indicated links between some Southeast Asian scam groups and Chinese organized crime, but analysts suggest these structures are becoming more decentralized, showing patterns of multi-national collaboration and cross-border money laundering.