US DOJ Strike Force Freezes $701 Million in Crypto and Dismantles Southeast Asian Scam Infrastructure

On April 24, 2026, the U.S. Department of Justice (DOJ) announced the results of a massive crackdown on an international cryptocurrency investment scam organization. Through this action, the DOJ froze $701 million (approximately 960 billion KRW) in digital assets linked to scam centers in Southeast Asia. This is considered one of the most significant achievements of the DOJ's special strike force, which was launched late last year.

This asset freeze reflects the strong commitment of U.S. federal authorities to cut off the funding lifelines of global cryptocurrency scam networks and enhance transparency in the digital asset market.

In this operation, the DOJ focused not only on freezing assets but also on dismantling the digital infrastructure that serves as the operational base for scam organizations. During the crackdown, large-scale Telegram channels used to recruit innocent job seekers into fraudulent activities were seized, and 503 fake cryptocurrency investment websites used to lure investors were shut down. These measures are part of a strategy to block the entire process, from the recruitment phase of scam organizations to money laundering routes.

Dismantling Scam Infrastructure: Telegram and Fake Sites

The strike force's achievement is significant in that it directly targeted the technical foundation of the scam organizations. In particular, Telegram channels have been used as a conduit to lure job seekers with promises of high returns and force them into participating in fraudulent activities. By seizing these channels, the DOJ succeeded in cutting off the criminal organizations' labor supply and preventing further spread of damage.

• Closure of 503 sophisticatedly designed fake cryptocurrency investment website domains
• Seizure of major Telegram channels used for luring job seekers and forcing criminal participation
• Completion of legal freeze actions on $701 million worth of cryptocurrency assets

These scam organizations based in Southeast Asia have recently evolved into professional 'call center' formats, committing organized crimes. They target investors worldwide with strict quotas and sophisticated scripts, and the level of intervention by U.S. federal authorities is gradually increasing to respond to this specialized criminal structure.

In 2026, the DOJ's cryptocurrency-related law enforcement is accelerating. Prior to this $701 million freeze, a $225 million civil forfeiture lawsuit was filed on April 13, and a $580 million asset seizure was reported in February. This demonstrates that the DOJ is concentrating its capabilities on recovering criminal proceeds using cryptocurrency.

Victim Restitution and Market Resilience

The frozen assets will be placed under the management of the U.S. Marshals Service (USMS) and will be used for victim restitution according to legal procedures. In fact, on April 23, the DOJ initiated a $40 million compensation process for victims of the OneCoin scam. The massive funds frozen this time are also expected to be returned to victims through a similar compensation model.

Despite strong crackdowns by regulatory authorities, the institutionalization of the cryptocurrency market continues. Japan's Metaplanet issued $50 million in non-transferable bonds to purchase additional Bitcoin, and Morgan Stanley launched a new deposit service for stablecoin issuers. This suggests that strengthened regulation and law enforcement are actually increasing market credibility and attracting institutional investors.

The DOJ strike force, which began its activities in late 2025, has now entered a stage of producing full-scale results. The new legal definition of 'covered actions' specified in the Federal Register supports the long-term continuation of high-value asset seizures of $1 million or more and strong law enforcement. This move by the DOJ is just the beginning of a long-term strategy to eradicate criminal activities within the cryptocurrency market.