Coinbase has frozen over $3 million in cryptocurrency connected to a Southeast Asian fraud network as part of "Disruption Week," an initiative led by the U.S. Department of Justice's Fraud Center. The operation, which included Meta, Microsoft, and Starlink, targeted crypto fraud affecting U.S. citizens by dismantling servers and disrupting over 1.4 million social media and email accounts linked to the network.
The Royal Thai Police's Anti-Cyber Fraud Center has made several arrests in connection with the fraud. The U.S. Department of Justice highlighted that investment fraud and "pig butchering" scams are among the fastest-growing and most financially damaging frauds targeting Americans. Coinbase emphasized the role of blockchain technology in providing a transparent and permanent record of transactions, aiding law enforcement efforts.
Coinbase Freezes $3 Million Linked to Southeast Asian Crypto Fraud
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