Crackdown Continues: FBI Seizes $1.7 Million in Crypto Assets

The U.S. Federal Bureau of Investigation (FBI) has taken control of approximately $1.7 million in cryptocurrency assets as part of its ongoing efforts to curb violations of federal regulations.

According to a recent public filing by the agency, it has confiscated various cryptocurrencies from individuals suspected of flouting regulations over the course of three months.

Additionally, the FBI has also apprehended traditional fiat currency (U.S. dollars), luxury cars, weapons, and other items believed to be linked to illicit activities within the cryptocurrency sphere.

One significant seizure detailed in the filing involves the confiscation of 428.5 Ethereum from four wallets situated in the Eastern District of Virginia.

This Ethereum stash, valued at approximately $800,000 during the time of seizure, highlights the agency's intent.

In a separate instance, 5.12 Bitcoins were seized, with a calculated worth of $136,893.01. The filing further discloses that suspects surrendered $310,277 in Tether over the three-month period.

The FBI remains vigilant in its efforts to deter criminal activities within the cryptocurrency realm.

Earlier, on August 4th, the investigative body released a public advisory, cautioning internet users against individuals masquerading as NFT (Non-Fungible Token) developers and exploiting unsuspecting victims.

The agency highlighted that these criminals either gain unauthorised access to genuine NFT developer social media accounts or create near-identical accounts to promote fraudulent NFT releases.

Often, these deceptive posts attempt to incite urgency by using phrases such as "limited supply" and labeling the promotion as an unexpected or unannounced "mint."

Furthermore, the FBI alerted the public to deceptive crypto job offers that coerce victims into engaging in investment fraud, ultimately resulting in financial losses.