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After years in which cybercriminals seemed to operate unchecked, global authorities have struck back. In a sweeping effort that brought together law enforcement, exchanges, and blockchain firms, more than $300 million in cryptocurrency tied to fraud has been frozen across multiple countries.
A global crackdown on crypto scams
This milestone wasn’t the work of a single agency—it came from unprecedented cooperation. The first operation, known as the T3+ Global Collaborator Program, launched in September under the leadership of the T3 Financial Crime Unit.
The initiative united some of the biggest names in the industry, including TRM Labs, Binance, Tether, and TRON. Together, they sifted through millions of transactions spanning five continents, reviewing over $3 billion in digital asset flows.
The results were staggering: $250 million was frozen in under a year. Among the cases highlighted was a joint effort with Binance that blocked $6 million linked to so-called romance scams, where criminals lure victims with fake relationships before steering them toward fraudulent investments.
North American operation nets more fraudsters
The second wave, code-named Atlas, unfolded in North America with support from both the United States and Canada. Partnering with Chainalysis, investigators tracked more than 2,000 suspicious crypto addresses across 14 countries, including France, Germany, and Australia.
This effort resulted in the blacklisting of $50 million in USDT, with Tether’s cooperation. Analysts estimate the intervention also prevented an additional $70 million from being siphoned away by scammers.
Over $300 million in cybercrime crypto seized in anti-fraud effort – @billtoulashttps://t.co/gjiMMMq6aQhttps://t.co/gjiMMMq6aQ
— BleepingComputer (@BleepinComputer) August 14, 2025
A warning shot to cybercriminals
While the operation marks a major success, experts caution the fight is far from over. Natalie Newson of CertiK emphasized that scams remain widespread, particularly in jurisdictions where regulation is still underdeveloped.
Still, the message is clear: the era when scammers could freely exploit blockchain anonymity is coming to an end. These $300 million in frozen assets send a signal that crypto fraud will no longer go unchallenged.
Hope for victims
Beyond striking at scammers, the coordinated actions provide hope for investors who’ve lost funds. By halting the flow of stolen assets before they vanish into the darknet, authorities have shown that international cooperation can make a difference.
For the first time in years, victims of cryptocurrency scams have a genuine chance of recovering their stolen funds. More importantly, the crackdown proves that blockchain—often seen as a haven for criminals—can also be a powerful tool for tracking illicit transactions and protecting investors.
