The FBI has announced the seizure of more than $8 billion in cryptocurrency as part of a large international operation targeting online scam networks and organized crime groups. Officials said the crackdown led to hundreds of arrests and the rescue of thousands of people believed to be victims of human trafficking.
According to authorities, the operation focused on criminal organizations accused of running scam compounds in several countries. These compounds were allegedly used to carry out online fraud schemes that targeted victims in the United States and other regions.
One of the biggest cases involved Chen Zhi, the chief executive of Prince Holding Group in Cambodia. Investigators said they seized more than 127,000 bitcoin linked to the case. At current market prices, the cryptocurrency is worth over $8 billion. Officials stated that the value may have exceeded $15 billion at certain points in the past.
Federal prosecutors have charged Chen Zhi with wire fraud and conspiracy to commit money laundering. Authorities claim that Prince Holding Group operated secure scam compounds connected to large-scale online fraud activities.
The FBI said many scam centers in Asia, Africa, and the Middle East have ties to Chinese organized crime groups. These operations allegedly targeted Americans through investment scams and other forms of online fraud. Investigators noted that efforts to identify and dismantle additional compounds are still ongoing.
FBI Director Kash Patel described the scam compounds as organized criminal enterprises designed to steal money, launder funds, and exploit vulnerable individuals. He said the operation helped free nearly 2,000 trafficked workers, stopped more than $8 billion in fraud activity, and resulted in nearly 300 arrests.
Authorities also carried out major enforcement actions in Thailand and the United Arab Emirates. In Thailand, investigators seized thousands of smartphones and office devices used in scam operations. In Dubai, law enforcement officers arrested 275 suspects. Six of those individuals are expected to face charges in the United States.
The crackdown also targeted scam compounds operating in Myanmar. One investigation focused on the Tai Chang compound in an area controlled by the Democratic Karen Benevolent Army (DKBA). The FBI seized approximately $30 million connected to that operation and related scam networks.
Officials said some scam compounds relied on trafficked workers. Victims were reportedly promised legitimate jobs and visas before being forced to participate in fraud schemes. Many faced threats, violence, and harsh conditions if they refused.
The FBI also worked with Starlink to identify internet terminals allegedly used by scammers. As a result, more than 7,000 terminals in Myanmar were suspended.
The broader campaign, known as Operation Blackout, included several investigations targeting scam compounds across multiple countries. Another initiative, Operation Level Up, focused on warning potential victims of cryptocurrency investment fraud. Through the program, the FBI contacted 8,935 people and said it helped prevent an estimated $562 million in losses.
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The agency reported receiving nearly 72,000 complaints related to cryptocurrency investment scams in 2025. Those complaints involved more than $7.5 billion in reported losses. Officials believe the actual financial damage may be significantly higher.
