Global Crypto Crackdown: Interpol Freezes 400 Wallets In Massive Scam Operation

Interpol has announced a significant recovery of assets totaling $439 million as part of a recent operation aimed at dismantling online scams, which included a substantial amount in crypto assets. 

This initiative, which took place from April to August of this year, involved collaboration among authorities from over 40 countries and territories. The operation resulted in the blocking of 68,000 bank accounts and the freezing of approximately 400 cryptocurrency wallets.

$97 Million In Crypto Seized

The scams targeted during this operation were varied, encompassing voice phishing, romance scams, online sextortion, investment fraud, money laundering linked to illegal online gambling, business email compromise, and e-commerce fraud. 

According to Interpol, the recovered assets included $342 million in traditional currencies along with $97 million worth of physical and crypto assets. This marked the sixth phase of an ongoing international law enforcement collaboration known as HAECHI, which has been financially supported by South Korea. 

Previous phases of this initiative, culminating in November 2024, had also yielded significant financial recoveries along with 5,500 arrests from crypto-related crimes. Theos Badege, Director of Interpol’s Financial Crime and Anti-Corruption Centre stated:

While many people believe that funds lost to fraud and scams are often irretrievable, the outcomes of HAECHI operations demonstrate that recovery is indeed possible. As one of INTERPOL’s flagship financial crime operations, HAECHI is a prime example of how global cooperation can protect communities and safeguard financial systems.

While Interpol did not provide specific figures on arrests made during this latest operation, it did note that authorities in Portugal apprehended 45 individuals involved in a complex syndicate that had been siphoning funds intended for “vulnerable families.” 

Cyber-Crime Tactics

In another notable case, the Royal Thai Police reported seizing $6.6 million in a single operation—marking the largest recovery in the country to date. This case involved a sophisticated business email compromise scheme executed by a transnational organized crime group consisting of Thai and West African nationals. 

Additionally, South Korean national police collaborated with authorities in the United Arab Emirates to recover about $3.9 million in Korean won that had been sent to an illegitimate bank account in Dubai. This incident occurred after a Korean steel company discovered that shipping documents had been forged.

Romance scams, investment fraud, and other cyber-enabled crimes to target digital asset investors are also said to frequently originate from Southeast Asia, operated by organized crime groups, which often employ tactics involving kidnapping and human trafficking to staff these operations.

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