US announces new strike force targeting Chinese crypto scammers

U.S. federal authorities have formed the Scam Center Strike Force to disrupt Chinese transnational criminal rings that run large-scale cryptocurrency investment scams and money-laundering operations from compounds in Southeast Asia; the effort has already seized over $401 million in cryptocurrency, pursued forfeiture of additional funds, and coordinated sanctions and prosecutions against groups and facilitators linked to human trafficking and scam infrastructure.