Global task force dismantles ‘pig-butchering’ crypto fraud rings preying on Americans

Global task force dismantles 'pig-butchering' crypto fraud rings preying on Americans

Coordinated sweep across Dubai, China and Thailand targeted 'pig-butchering' networks draining Americans' bank accounts

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Justice Department takes action against overseas scam centers targeting Americans

U.S. Attorney for the District of Columbia Jeanine Pirro announces Justice Department actions against overseas cybercrime scams targeting Americans.

Officials announced on Wednesday an international law enforcement operation dismantled at least nine overseas cryptocurrency scam centers and resulted in 276 arrests, shutting down illicit networks that have stolen millions of dollars from Americans.

The sweep was coordinated by the FBI alongside police forces in Dubai, China and Thailand.

As part of the crackdown, federal wire fraud and money laundering charges were unsealed in San Diego against six people, including nationals from Burma and Indonesia who allegedly managed operations under names like "Sanduo Group" and "Giant Company."

Dubai Police apprehended 275 suspects, while the Royal Thai Police arrested an additional fugitive.

A bitcoin machine displays the words "U.S. PATRIOT Act" on its screen. (Mario Tama/Getty Images)

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"Global crime now faces global justice," said U.S. Attorney Adam Gordon for the Southern District of California. "These scammers thought they were safe half a world away. But their world has changed."

The foreign fraudsters used a tactic known as "pig-butchering" to drain Americans' bank accounts. Criminals develop fake friendships or romantic relationships with victims over time, eventually persuading them to deposit funds into bogus cryptocurrency investment platforms.

Scammers constantly touted their fake investment successes to encourage victims to invest even more, pushing Americans to take out loans or borrow money from family. Once the victims transferred their money, the suspects laundered the funds into their own accounts, leaving the victims with nothing.

The sweep was conducted overseas, with assistance from the FBI. (FBI Boston)

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The crackdown aligns with a March 6 executive order signed by President Donald Trump, which directed the administration to use every available tool to crush foreign-backed criminal networks that exploit vulnerable citizens and drain American families of their life savings.

The investigation was spearheaded by the Homeland Security Task Force (HSTF), established under Executive Order 14159, "Protecting the American People Against Invasion."

The HSTF is a whole-of-government partnership heavily focused on eliminating transnational criminal organizations and cartels that fuel instability.

Scammers drained Americans' bank accounts and pocketed the profits, according to officials. (Halfpoint/Getty Images)

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The FBI's recent "Operation Level Up" initiative has notified nearly 9,000 victims of similar schemes, successfully saving Americans an estimated $562 million, according to the U.S. Attorney's Office.

The FBI is urging anyone who has been defrauded by similar schemes to report it to the Internet Crime Complaint Center.

Alexandra Koch is a Fox News Digital journalist who covers breaking news, with a focus on high-impact events that shape national conversation.

She has covered major national crises, including the L.A. wildfires, Potomac and Hudson River aviation disasters, Boulder terror attack, and Texas Hill Country floods.

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