FBI Seizes Record $8 Billion in Crypto as Global Scam Compound Crackdown Targets Organized Crime Networks, Trafficking Rings and Online Fraud Operations Across Asia, Dubai and Myanmar After 127,000 Bitcoin Forfeiture and Hundreds Arrested Worldwide
In a massive international operation against scam compounds and organized crime groups, the FBI has seized $8 billion worth of cryptocurrency and arrested hundreds of suspects. The action was directed against groups allegedly stealing from US citizens with crypto investment scams, romance scams, impersonation scams, and other online fraud schemes.
According to the FBI, the operation included the seizure of more than 127,000 bitcoin during the arrest of Chen Zhi, CEO of Cambodia-based Prince Holding Group.
The seized Bitcoin was worth over $8 billion, and authorities said it may have been worth more than $15 billion at the time of seizure. It was the largest forfeiture in the history of the US government, authorities said.
Federal charges against Chen Zhi include wire fraud and conspiracy to commit wire fraud. The crackdown also targeted groups like the Democratic Karen Benevolent Army, an armed group in Myanmar that has been declared by the US government as a transnational criminal group.
Scam Compounds Linked to Organized Crime
The FBI reported that the scam compounds, some in Asia, Africa and the Middle East, targeted Americans, specifically, and were part of China-based organized crime. These compounds were supposedly involved in the theft of money, money laundering, and exploiting trafficked workers who were compelled to engage in scams.
“Scam compounds are not just call centers. They are organized criminal enterprises built to steal from Americans, launder money, and exploit people at scale,” FBI Director Kash Patel said in a statement to Fox News Digital.
“The FBI has been leading the charge, from taking down Prince Group in Cambodia to Operation Sand Dollar in Dubai. We helped free nearly 2,000 trafficked workers, shut down more than $8 billion in scam center fraud, and arrested nearly 300 people,” Patel said.
“If you target Americans, we will find you, disrupt your network, and bring every available tool of the federal government down on you.”
Also Read: CBI Cracks GainBitcoin Scam, Arrests Darwin Labs Co-Founder at Mumbai Airport
Dubai, Thailand, and Myanmar Operations
Dubai police officers and the FBI arrested 275 people, including six who are expected to be extradited to the United States for federal charges. Thailand police confiscated thousands of cellphones and office equipment for suspected fraud activities.
This broader investigation, dubbed Operation Blackout, involved various individual investigations. Operation Zephyr Exodus was about Prince Holding Group and Operation Sand Dollar was about scam compounds in the UAE through organized crime networks.
Another investigation, Operation Haochen, was conducted in the Democratic Karen Benevolent Army-controlled Kyaukhat scam compound in Myanmar. A total of $30 million was frozen by the FBI on behalf of the Tai Chang and other scam compounds.
Crypto Fraud Complaints Show Scale of Losses
The FBI’s Internet Crime Complaint Center reported that it received complaints for over $7.5 billion in losses from cryptocurrency investment fraud in 2025, with almost 72,000 complaints received. The bureau estimates the loss will be a lot higher.
Criminal syndicates are estimated to steal approximately $64 billion annually, according to an estimate by the United States Institute of Peace. The FBI has reached 8,935 potential victims during Operation Level Up, of which 77% were not aware that they were being scammed. This is preventing losses of $562 million.
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