$12.7 Billion Digital Asset Investment Fraud Suspected Transactions Confirmed

The U.S. Financial Crimes Enforcement Network (FinCEN) has confirmed suspicious financial activities related to digital asset investment fraud amounting to $12.7 billion linked to overseas scam centers. This figure represents the scale of suspicious activities reported by financial institutions and is not the confirmed amount of losses. FinCEN analyzed 33,904 Bank Secrecy Act (BSA) reports submitted between September 8, 2023, and December 31, 2025. The reporting entities included approximately 1,300 financial institutions, with money services businesses (MSBs) accounting for 18,568 reports, or 54.8% of the total, involving $5.5 billion. Depository institutions reported 13,810 cases totaling $6.4 billion, while securities and futures firms reported 1,504 cases amounting to $784.5 million. FinCEN noted that the average monthly number of reports increased by 10.9%, and the reported amounts rose by 18%. Fraud organizations lured victims using fake identities to transfer funds to digital asset addresses. Some of these funds appear to have been converted into stablecoins and moved to overseas exchanges. FinCEN identified Cambodia, Myanmar, and Laos as operational bases and analyzed that the fraud issue is expanding into transnational financial crime. The U.S. Department of Justice is currently freezing and tracking cryptocurrency worth $707,196,392.15. This alert raises issues for domestic investors regarding the identification of fraudulent platforms and the verification of transfer routes.

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