Connecticut's attorney general issued a consumer alert about unregulated offshore DeFi trading platforms after a state resident lost access to $200,000 deposited following a deceptive solicitation and was unable to recover the funds.
The United States and United Kingdom have formed a joint law enforcement alliance through a memorandum of understanding to investigate and dismantle scam centers involved in cryptocurrency and cyber-enabled investment fraud. The partnership was formally launched at a signing ceremony at the British ambassador's residence in Washington.
The Treasury Department's Financial Crimes Enforcement Network (FinCEN) identified approximately $12.7 billion in suspected financial activity linked to digital asset investment scams operated by overseas criminal networks, based on analysis of 33,904 Bank Secrecy Act reports. The alert urges financial institutions to report suspicious activity related to these scams.
The Financial Crimes Enforcement Network analyzed 33,904 suspicious activity reports and identified $12.7 billion in crypto transactions linked to pig butchering and other scams operated from Asian compounds.
