U.S. Freezes $833 Million in Crypto Tied to Overseas Scams

U.S. authorities have frozen about $833 million in cryptocurrency tied to overseas scams, a crackdown President Trump plans to highlight at a White House cybercrime event. The operation also resulted in the seizure of 503 websites used in crypto-related scams and alerts to nearly 9,000 Americans that they were being targeted. The actions came through a Homeland Security task force. Transnational criminal groups use romance scams, phishing and ransomware attacks to steal from Americans. The response covered three parts: cryptocurrency frozen, scam websites seized and residents notified. The effort targets overseas criminal groups using online fraud against Americans.

Source: TokenPost