Coinbase, SpaceX Join US Justice Department Operation Freezing $3.8 Million in Crypto
Summary
- The U.S. Department of Justice said it froze $3.8 million in cryptocurrency tied to fraudulent activity through its Disruption Week operation.
- Coinbase said it froze $3 million in crypto assets linked to the criminal network and deactivated more than 1.4 million accounts.
- The crackdown disrupted the fraud network through the termination of thousands of Starlink terminals, the shutdown of servers, colocation facilities and hosting infrastructure, and the arrest of 63 people.
Forecast Trend Report by Period
The U.S. Department of Justice has joined with private companies to crack down on fraud networks based in Southeast Asia.
The Block reported on June 3 that the Justice Department said it froze $3.8 million in cryptocurrency tied to fraudulent activity through an operation dubbed Disruption Week.
Apple, Coinbase, Google, Meta, Microsoft, Silent Push, SpaceX, TRM Labs and Zenlayer participated in the operation. Meta played a leading role in the project, according to the report.
In a separate statement, Coinbase said it froze $3 million in crypto assets linked to the criminal network. The operation also deactivated more than 1.4 million accounts and terminated thousands of Starlink terminals. A total of 63 people were arrested.
The crackdown also shut down servers, colocation facilities and hosting infrastructure linked to fraud networks operating across Southeast Asia.
FBI Director Kash Patel said partnerships are among the strongest tools for responding to illegal activity. Working with agencies, foreign law enforcement authorities and the private sector is helping prevent further harm, he added.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
