The U.S. Attorney’s Office for the District of Columbia, the Crown Prosecution Service of England and Wales, and the UK National Crime Agency signed a Memorandum of Understanding to create a joint alliance to dismantle global scam centers involved in cryptocurrency investment fraud and other cyber-enabled schemes.
The agreement marks the largest coordinated international action to date against these networks, which government estimates say cause about $10 billion per year in losses for American consumers and investors.
If you have already lost money to these operations or think you may be a target, the announcement shows new enforcement momentum and is a reason to look at available cryptocurrency investment fraud and digital asset loss options.
What Happened: The First U.S.-UK Scam Center Alliance
The U.S. and UK Launch First-of-Its-Kind Joint Alliance to Dismantle Global Scam Centers press release describes the MOU as a formal framework for coordinated enforcement, under which American and British authorities will conduct parallel investigations, share intelligence on organized crime syndicates, coordinate jurisdiction decisions, and prioritize cases posing the greatest threat to victims in both countries.
The losses driving this cooperation are substantial. The FBI IC3 2024 Annual Internet Crime Report documented over $6.5 billion in losses to cryptocurrency investment fraud in a single year, with cyber-enabled fraud now accounting for roughly 83% of all IC3-reported losses.
The MOU builds on prior escalating enforcement, including a crackdown that produced at least 276 arrests and dismantled nine scam centers, Treasury and UK sanctions against Southeast Asian networks including Prince Group and Huione Pay, and Disruption Week operations that exposed the full scale of these schemes. The new alliance shifts strategy from targeting individual scammers to disabling the organized infrastructure behind the fraud.
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$350 Million for Our Clients Nationwide.
What This Means for Investors
Scam center operations typically begin with unsolicited contact through texts, dating apps, or social media. Criminals build trust before directing victims to fake cryptocurrency platforms that display fabricated returns.
When victims try to withdraw, the platform demands bogus fees or taxes, and by that point the funds are already gone. Guaranteed returns, pressure to act quickly, and any unsolicited contact steering toward crypto investing are all red flags. Victims should stop sending money immediately, preserve all communications and transaction records, and file reports with the FBI’s Internet Crime Complaint Center (IC3) and the Federal Trade Commission.
How Meyer Wilson Werning Can Help
Meyer Wilson Werning represents investors nationwide who have suffered losses to cryptocurrency investment fraud, pig butchering scams, and related cyber-enabled schemes. The firm’s attorneys evaluate each situation to determine whether civil recovery options exist, including claims against brokerage firms, financial advisers, or other regulated parties that may bear responsibility.
With more than 75 years of combined experience and over $350 million recovered for clients across the country, Meyer Wilson Werning provides free and confidential consultations to investors evaluating their options. Contact us today to discuss cryptocurrency investment fraud recovery options and learn what steps may be available.
Our lawyers are nationwide leaders in investment fraud cases.
Frequently Asked Questions
What is cryptocurrency investment fraud and how does it typically work?
Cryptocurrency investment fraud is a confidence-based scheme in which criminals convince victims to deposit money into fake platforms that mimic legitimate exchanges. Initial contact typically comes through texts, dating apps, or social media. Scammers build a relationship, introduce a fabricated investment opportunity, and show false returns to encourage larger deposits. Withdrawals are then blocked or conditioned on bogus fees.
What are scam centers and why do they matter in cryptocurrency investment fraud?
Scam centers are large-scale operations, often in Southeast Asia, where coerced workers run online fraud schemes for transnational criminal networks. They operate multiple fake platforms, conduct targeted outreach, and exploit cross-border payment systems. The U.S.-UK MOU targets these centers directly because they are associated with an estimated $10 billion per year in losses to American investors.
How much money are victims losing to cryptocurrency investment fraud each year?
The FBI’s IC3 reported over $6.5 billion in cryptocurrency investment fraud losses in 2024, with cyber-enabled fraud accounting for roughly 83% of all IC3-reported losses. Government estimates attribute approximately $10 billion per year in losses to scam center operations alone.
What should I do if I think I am a victim of a pig butchering scam or crypto investment fraud?
Stop sending money immediately and do not pay any fees or taxes claimed to be required for withdrawals. Preserve all communications, transaction records, wallet addresses, and platform URLs. File reports with the FBI’s Internet Crime Complaint Center (IC3), the Federal Trade Commission, and local law enforcement. Avoid any service promising guaranteed crypto recovery for an upfront fee, as these are frequently secondary scams.
Recovering Losses Caused by Investment Misconduct.