US Authorities to Return $7 Million to Victims of Fake Crypto Sites

US authorities will return $7 million to victims of fraudulent cryptocurrency platforms.

According to a statement from the Eastern District of Virginia’s prosecutor’s office, criminals built trust with users before redirecting them to fake websites.

Once deposited, the funds passed through more than 75 bank accounts of shell companies and were then sent abroad, disguised as internal transfers.

The sites promised victims high returns on supposed investments. However, when attempting to withdraw funds, the fraudsters demanded additional payments, allegedly for profit tax purposes.

Some of the stolen money was seized in 2023. The US Secret Service (SAS) discovered the funds in a foreign bank account and initiated a civil forfeiture process. After reaching a court settlement, US authorities were granted the right to return $7 million.

Victims have been urged to contact the SAS for compensation.

Earlier, on February 28, the Ohio state prosecutor’s office announced that it would return $8.2 million seized from criminals to users. In this case, the fraudsters used a “random number” scheme.