The FBI says Operation Level Up is proactively identifying and contacting victims of long‑con ‘pig‑butchering’ cryptocurrency investment fraud, notifying thousands and freezing transfers before larger losses. The program targets scams run from overseas compounds and urges victims to report incidents to the IC3 portal for follow‑up.

The FBI in materials updated Jan 2026 describes Operation Level Up as a proactive, victim‑notification and interdiction initiative aimed at long‑confidence cryptocurrency investment fraud often called “pig‑butchering.” Agents and analysts identify suspected victims via blockchain tracing and intelligence leads, directly contact thousands of potential victims to warn them, and work with financial institutions and crypto platforms to block or reverse transfers when possible. The effort has expanded in response to a surge of job/investment scams operated from overseas scam compounds that groom victims over weeks or months. The bureau frames Level Up as a major U.S. enforcement and victim‑relief program that complements prosecutions by informing potential victims early. The FBI continues to urge public reporting through the Internet Crime Complaint Center (IC3) to build cases and improve response times, and it highlights international cooperation to disrupt cross‑border scam operations feeding crypto fraud losses.