The FBI says it has seized cryptocurrency valued at more than $8 billion and arrested hundreds of suspects in a multinational effort targeting fraud networks known as scam compounds. The agency described the actions as part of Operation Blackout, which included investigations across Cambodia, Myanmar, Thailand and the United Arab Emirates.
One major case involves Chen Zhi, CEO of Cambodia’s Prince Holding Group, who faces federal wire fraud and money laundering conspiracy charges. Authorities said they confiscated more than 127,000 bitcoin in connection with his arrest, calling it the largest forfeiture in U.S. government history. Officials allege the Prince Group operated guarded compounds used to conduct scams against Americans and others.
The FBI also cited operations involving the Democratic Karen Benevolent Army, a Myanmar-based armed group sanctioned by the U.S. Treasury and designated as a transnational criminal organization. In one Myanmar-related investigation, agents seized $30 million tied to alleged fraud operations. In Dubai, authorities arrested 275 people, with six expected to face charges in the United States.
Federal officials say the compounds often function as organized criminal businesses, combining cyber-enabled theft, money laundering and human trafficking. Some workers were allegedly lured with promises of jobs and visas, then forced to carry out scams under threats of violence. The FBI said nearly 2,000 trafficked workers were freed during related actions.
The investigations began after a surge in complaints to the FBI’s Internet Crime Complaint Center. In 2025, the center received nearly 72,000 reports of cryptocurrency investment fraud, with claimed losses exceeding $7.5 billion. Authorities believe actual losses are higher. One American reportedly lost $3 million in a romance scam.
The bureau also worked with Starlink to suspend more than 7,000 terminals allegedly used by scammers in Myanmar and said victim notifications have prevented $562 million in additional losses through Operation Level Up so far.