CROWDFUNDINSIDER · 2026-10-30 12:21 UTC

US Authorities Restrain Over $1B in Crypto as China Linked Scam Networks Expand to Madagascar

U.S. authorities have restrained over $1 billion in cryptocurrency linked to fraud and scam operations, with the DOJ's Scam Center Strike Force charging six individuals in Africa tied to Chinese transnational groups. The defendants allegedly ran an NFT investment scam targeting Americans through fake dating profiles, stealing cryptocurrency from approximately 800 victims by directing them to fraudulent investment platforms. Investigators found the operation shifted from Cambodia to Madagascar in early 2025, with recovered evidence showing organized work schedules, bonus structures tied to…

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