The US has launched a new multi-agency strike force to combat Chinese-linked crypto fraud networks that have rapidly expanded across Asia, Africa, and the US. The initiative brings together federal prosecutors, the FBI, IRS, Secret Service, and Homeland Security to target large-scale pig-butchering scams, ransomware groups, and money-laundering syndicates. Officials say many operations are run from Southeast Asia using trafficked workers forced to run crypto scams. The strike force aims to disrupt the financial infrastructure, freeze illicit assets, and coordinate with global partners to curb billions lost to these schemes.
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