Interpol seizes $300 million from cybercriminals and crypto fraudsters

Interpol seizes $300 million from cybercriminals and crypto fraudsters

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Author: James Soplin
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Interpol seizes $300 million from cybercriminals and crypto fraudsters 

Interpol confiscated $300 million from cybercriminals and crypto fraudsters. Interpol seized $101 million in cryptocurrency during Operation HAECHI IV. The international police reported on a transcontinental operation that led to the arrest of 3.5 thousand individuals.


 

 

Interpol seized $300 million and arrested 3.5 thousand people in 34 countries during an operation targeting cybercrime and crypto fraud. A total of over 82 thousand bank accounts were frozen, and a sum of $199 million in fiat currencies and $101 million in virtual assets was confiscated, according to Interpol's press release.

 

The transcontinental police operation HAECHI IV took place from July to December of this year and aimed to combat various types of cyber fraud, including phishing, investment scams, and "romantic" fraud, as stated in the report.

75% of the cases investigated during the operation were related to investment fraud, compromise of work emails, and e-commerce fraud.

Global efforts to stay ahead of recent criminal trends have led to significant operational results, noted the head of Interpol's National Central Bureau in Korea, Kim Dong Kwon. He stated that the HAECHI project will continue to evolve and expand its scope.

The operation also uncovered crimes related to the sale of NFTs with promises of huge profits, turning out to be scams of the "rug pull" series—where developers suddenly abandon the project, and investors lose their money.

Interpol also warns about the use of artificial intelligence (AI) and deepfake technology, allowing criminals to hide their identity and pose as family members or friends of victims. Some cases included scammers faking voices to impersonate people familiar to the victims.

Participating countries in the operation included Argentina, Australia, Brunei, Cambodia, Cayman Islands, Ghana, Hong Kong, India, Indonesia, Ireland, Japan, Kyrgyzstan, Laos, Liechtenstein, Malaysia, Maldives, Mauritius, Nigeria, Pakistan, the Philippines, Poland, South Korea, Romania, Seychelles, Singapore, Slovenia, South Africa, Spain, Sweden, Thailand, UAE, UK, USA, and Vietnam. Financial support for HAECHI operations is provided by South Korea.

Interpol established a specialized unit to combat crimes related to cryptocurrency and other virtual assets in October 2022. The team, formed in Singapore, assists law enforcement agencies in various countries in combating crimes in this sphere.

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