Law enforcement agency cracks down on digital assets
The United States Federal Bureau of Investigation (FBI) has seized approximately $1.7 million worth of digital assets in a span of three months, according to a public filing released by the agency.
The FBI confiscated $147,000 in Bitcoin (BTC), $800,000 in Ether (ETH), $307,000 in Tether (USDT), 469,000 in DAI (DAI), and $20,000 in Monero (XMR). These assets were taken from sources including Binance exchange wallets.
Largest seizure in the Eastern District of Virginia
The largest amount seized by the agency, totaling 428.5 ETH (approximately $463,000), was in the Eastern District of Virginia.
In addition to cryptocurrencies, the FBI also listed the seizure of assets such as United States Dollars (USD) from bank accounts, sports cars, luxury bags, clothes, and shoes.
FBI warns of crypto scams
The FBI has been issuing warnings to the crypto community about the prevalence of scams in the industry. The agency recently cautioned individuals about scammers posing as legitimate figures in the nonfungible token (NFT) space.
These fraudsters, known as account hijackers, create a "sense of urgency" to trick victims into visiting fake websites and steal their crypto assets. They either hack official social accounts or create new ones that closely resemble official accounts.
The FBI has also highlighted other forms of crypto-related fraud, including phishing scams and fake crypto job advertisements that force victims to commit investment fraud.
The agency's efforts to crack down on illegal activities in the crypto space demonstrate the growing importance of regulation and enforcement in the industry.
