Coinbase freezes $3M tied to Southeast Asia scam networks

Coinbase froze more than $3 million in cryptocurrency linked to scam networks operating out of Southeast Asia as part of a U.S. Department of Justice Disruption Week in early June 2026. The action targeted networks that facilitate investment fraud and so-called pig butchering schemes.

The DOJ’s Scam Center Strike Force led the operation with cooperation from Coinbase, Meta, Microsoft, Starlink, the FBI, the U.S. Secret Service and law enforcement partners in the U.K., Australia, Canada, New Zealand and Thailand. Companies and agencies worked to disable online accounts, remove hosting servers and interrupt payment flows connected to the networks.

Coinbase reported it froze more than $3 million and highlighted cross-industry collaboration and the use of blockchain transaction records to support investigations. The company noted blockchain provides a transparent, permanent record of transactions that can aid law enforcement.

Meta provided actionable intelligence to help link activity across platforms. Microsoft and Starlink assisted in removing servers and other hosting infrastructure used by the criminal networks. Participating organizations reported the operation disrupted more than 1.4 million social media and email accounts.

Thai authorities executed several arrests through the Royal Thai Police Anti-Cyber Scam Center in connection with the takedown. The DOJ described the operation as addressing the fraud chain end-to-end: recruitment and grooming on social platforms, hosting and communications infrastructure, and cryptocurrency flows used to extract victims’ funds.

Federal agencies have reported rising losses from these scams. The FBI recorded more than $11 billion in U.S. losses to crypto- and AI-related scams in 2025, with investment scams accounting for the largest share. The DOJ identified investment fraud and pig butchering as among the fastest-growing schemes affecting U.S. victims.

The Disruption Week follows earlier international actions this year. In April, the Scam Center Strike Force and partners froze more than $701 million in crypto connected to investment scams. Other international efforts included a Dubai-led crackdown that resulted in 276 arrests and the shutdown of multiple scam centers, and a joint operation that led to arrests related to centers in Tirana.

Authorities and participating companies declined to provide full investigative details, citing ongoing inquiries and the need to protect investigative methods.