Skip to content
Finance — Cyber Tech Business Solutions — Revolutionizing Tech at Cyber Tech Hub — Crime-and-justice

DOJ Seizes Millions in Illicit Crypto: Ransomware, Scams, and SIM Swapping

The DOJ is cracking down on crypto-related crimes. Recent seizures include millions from ransomware and scams, showing a commitment to protecting consumers and investors.

,   and  Administrator
1 min read
In this picture we can see a market, in which we can see some stoles and we can see few people are...
In this picture we can see a market, in which we can see some stoles and we can see few people are around.

DOJ Seizes Millions in Illicit Crypto: Ransomware, Scams, and SIM Swapping

The U.S. Department of Justice is actively pursuing and seizing illicitly obtained cryptocurrencies, with recent cases involving millions of dollars. The efforts target various schemes, including ransomware, crypto investment scams, and romance scams, as well as SIM swapping attacks.

In August, the department sought to seize $2.8 million in crypto related to ill-gotten gains from the Zeppelin ransomware and over $1.9 million from crypto investment schemes. Earlier in June, another complaint involved $7.7 million frozen and seized from North Koreans allegedly obtaining money through the regime's illicit IT worker scheme. Notably, agencies at other levels of government can also make such complaints, as seen in late August when the Los Angeles County government and TRM Labs secured funds stolen from two people in romance scams.

The Department of Justice's Computer Crime and Intellectual Property Section (CCIPS) has been prosecuting SIM swapping cases. Between October 2022 and March 2023, they pursued funds taken from five victims, totaling millions in various cryptocurrencies. The stolen funds were moved through multiple crypto wallets and ultimately consolidated into one wallet that funded an account at Stake.com, an online casino. The thefts were enabled by SIM swapping, allowing criminals to access sensitive information like multifactor authentication codes.

The Justice Department's recent actions also include a claim in June on $225 million in cryptocurrency stolen from Americans by romance scams originating in Asia. These efforts demonstrate the government's commitment to combating cryptocurrency-related crimes and recovering stolen funds.

Read also:

Related

Latest