Summary
- The United States Department of Justice reported that it had recovered $7.1 million in virtual assets from a virtual asset fraud case totaling $97 million.
- The suspects were found to have attempted money laundering using approximately 19 virtual asset wallets.
- The Department of Justice stated that it recovered part of the illicit funds through blockchain tracking and cooperation with exchanges.
The United States Department of Justice has recovered $7.1 million in virtual assets (cryptocurrency) out of total fraud losses amounting to $97 million.
According to Decrypt on the 23rd (local time), the United States Federal Court indicted a suspect in the State of Washington for obtaining $97 million in illicit profits from oil and gas investment fraud, and recovered $7.1 million that had been attempted to be laundered through virtual assets.
The suspects laundered the funds through U.S. banks, overseas accounts, and about 19 virtual asset wallets. The Department of Justice tracked the origin of these funds using blockchain analysis and cooperation with exchanges.
Till Lucy Miller, United States federal prosecutor, explained, "The fraud conspirators profited by illegally laundering stolen money through various virtual asset accounts to conceal the funds from victims."
YM Lee
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