Unveiling a significant breakthrough in combating cybercrime, Interpol has successfully recovered assets amounting to $439 million through a strategic operation focused on dismantling online scams, with a notable portion in cryptocurrency. This high-stakes initiative, conducted from April to August, saw collaboration among law enforcement agencies from over 40 countries and territories.

Massive Crypto Seizure: $97 Million Recovered

The operation targeted a diverse range of fraudulent activities, including voice phishing, romance scams, online sextortion, investment fraud, money laundering tied to illicit online gambling, business email compromise, and e-commerce fraud. Interpol reported that the recovered assets included $342 million in traditional currencies and $97 million in both physical and cryptocurrency assets. This effort marks the sixth phase of the ongoing global law enforcement initiative known as HAECHI, with financial backing from South Korea.

In previous phases concluding in November 2024, HAECHI has achieved significant financial recoveries and over 5,500 arrests related to crypto crimes. Theos Badege, Director of Interpol’s Financial Crime and Anti-Corruption Centre, emphasized: “Contrary to popular belief, funds lost to scams can be recovered, as demonstrated by HAECHI operations. This initiative exemplifies how global cooperation can shield communities and protect financial infrastructures.”

Although specific arrest numbers from this latest operation were not disclosed, it was noted that Portuguese authorities apprehended 45 individuals involved in a complex network siphoning funds meant for vulnerable families.

Advanced Cyber-Crime Techniques

In an impressive feat, the Royal Thai Police reported a $6.6 million recovery in a single operation, marking the country’s largest to date. This involved a sophisticated business email compromise scheme orchestrated by a transnational crime group comprising Thai and West African nationals.

Moreover, South Korean authorities, in collaboration with their counterparts in the United Arab Emirates, managed to recover approximately $3.9 million in Korean won. This recovery followed the discovery by a Korean steel company of forged shipping documents, leading to funds being misdirected to a fraudulent account in Dubai.

Organized crime syndicates, often originating from Southeast Asia, are believed to perpetrate various cyber-enabled crimes such as romance scams and investment frauds targeting digital asset investors. These groups frequently resort to severe tactics, including kidnapping and human trafficking, to staff their operations.

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