The U.S. Secret Service and a U.S. Attorney’s Office filed civil forfeiture actions seeking over $225 million in cryptocurrency tied to a blockchain‑based laundering network used by investment‑confidence scams. Authorities cited hundreds of thousands of transactions and numerous victims in the sprawling scheme.

In a significant civil enforcement action, the U.S. Secret Service and a partnering U.S. Attorney’s Office filed forfeiture complaints targeting more than $225 million in cryptocurrency alleged to be proceeds of a sophisticated investment‑confidence fraud and laundering network. The complaint details hundreds of thousands of blockchain transactions, multiple mule accounts, synthetic corporate entities, and routing schemes designed to obfuscate origin and ownership of funds. Investigators said perpetrators encouraged victims to move funds into purported investments, then quickly converted proceeds into stablecoins and routed them through mixing services and overseas wallets to frustrate tracing. The civil action seeks to freeze and forfeit targeted wallet balances and related infrastructure while authorities continue parallel criminal and asset‑recovery efforts. The filing underscores continued reliance on civil remedies to disrupt large crypto laundering operations and seeks to recover funds for potential victim restitution. Officials emphasized collaboration with international partners, crypto firms and financial institutions to identify intermediaries and bolster preventive measures against similar confidence scams.