Global task force dismantles 'pig-butchering' crypto fraud rings preying on Americans

Officials announced on Wednesday an international law enforcement operation dismantled at least nine overseas cryptocurrency scam centers and resulted in 276 arrests, shutting down illicit networks that have stolen millions of dollars from Americans.

The sweep was coordinated by the FBI alongside police forces in Dubai, China and Thailand.

As part of the crackdown, federal wire fraud and money laundering charges were unsealed in San Diego against six people, including nationals from Burma and Indonesia who allegedly managed operations under names like "Sanduo Group" and "Giant Company."

Dubai Police apprehended 275 suspects, while the Royal Thai Police arrested an additional fugitive.

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"Global crime now faces global justice," said U.S. Attorney Adam Gordon for the Southern District of California. "These scammers thought they were safe half a world away. But their world has changed."

The foreign fraudsters used a tactic known as "pig-butchering" to drain Americans' bank accounts. Criminals develop fake friendships or romantic relationships with victims over time, eventually persuading them to deposit funds into bogus cryptocurrency investment platforms.

Scammers constantly touted their fake investment successes to encourage victims to invest even more, pushing Americans to take out loans or borrow money from family. Once the victims transferred their money, the suspects laundered the funds into their own accounts, leaving the victims with nothing.

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The crackdown aligns with a March 6 executive order signed by President Donald Trump, which directed the administration to use every available tool to crush foreign-backed criminal networks that exploit vulnerable citizens and drain American families of their life savings.

The investigation was spearheaded by the Homeland Security Task Force (HSTF), established under Executive Order 14159, "Protecting the American People Against Invasion."

The HSTF is a whole-of-government partnership heavily focused on eliminating transnational criminal organizations and cartels that fuel instability.

The FBI's recent "Operation Level Up" initiative has notified nearly 9,000 victims of similar schemes, successfully saving Americans an estimated $562 million, according to the U.S. Attorney's Office.

The FBI is urging anyone who has been defrauded by similar schemes to report it to the Internet Crime Complaint Center.