A large international operation targeting cyber-enabled cryptocurrency scam networks in Southeast Asia has resulted in arrests, account suspensions, and the freezing of millions in digital assets. The coordinated effort brought together major technology and crypto companies alongside law enforcement agencies from multiple countries.
As part of the operation, Coinbase froze more than $3 million (approximately Rs. 28.74 crore) in crypto assets linked to fraudulent activities. The initiative also involved Meta, Microsoft, and Starlink, which worked together to dismantle scam-related infrastructure, disable servers, and disrupt criminal operations.
The action led to the suspension of more than 1.4 million accounts, the arrest of 63 individuals by Thailand’s Anti-Cyber Scam Centre, the termination of thousands of Starlink kits, and the freezing of millions of dollars in illicit cryptocurrency assets.
The coalition included the FBI, the US Secret Service, and law enforcement agencies from the United Kingdom, Australia, Canada, New Zealand, and Thailand. Authorities identified investment fraud and pig butchering scams as some of the fastest-growing and most financially damaging threats targeting individuals.
In a statement, Coinbase said, “We know crypto sometimes gets an unfair reputation when it comes to illicit finance. The reality is the opposite. Blockchain technology gives law enforcement something traditional financial systems often can’t: a transparent, immutable and permanent record of every transaction.”
According to an FBI report released in April, losses linked to cryptocurrency and AI-related scams in 2025 exceeded $11 billion (around Rs. 1,05,391 crore), with investment scams accounting for the largest share of losses.
Earlier this year, authorities carried out another major operation that resulted in the arrest of 276 individuals and the shutdown of at least 9 crypto scam centres. The effort involved the FBI, China’s Ministry of Public Security, and authorities in Dubai.
In the latest case, 6 individuals have been charged in connection with scam operations. Among them, 4 defendants and 2 fugitive co-conspirators face federal fraud and money laundering charges in a US court. Each charge carries a potential prison sentence of up to 20 years if convicted.
The operation highlights growing cooperation between technology companies, cryptocurrency firms, and law enforcement agencies in tackling cyber-enabled financial crime and strengthening protection against digital asset fraud.
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