Funds linked to cryptocurrency investment scams were seized in Arizona, California and Idaho. The DOJ sends a warning to be wary of online scammers.
The Department of Justice announced Monday that it seized six virtual currency accounts worth an estimated $112 million linked to cryptocurrency investment scams in Arizona, California and Idaho. The FBI Phoenix Division is investigating this case.
The funds sent by victims for these fraud investments were instead funneled to cryptocurrency addresses and accounts controlled by scammers and their co-conspirators. The Department of Justice said they hope to raise public awareness surrounding these schemes. They warned the public to be wary of people they meet online and to seriously question investment advice, especially regarding cryptocurrency and investments that seem too good to be true.
According to the FBI, the highest number of reports came from victims between the ages of 30 and 49. In these schemes, scammers often target their victims through social networking and online communications platforms, dating websites, and phone calls and text messages that are meant to appear to have been misdialed.
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