The US Department of Justice has seized virtual currency worth an estimated $112 million allegedly involved in cryptocurrency investment scams, according to a Monday news release.
Judges in the District of Arizona, the Central District of California, and Idaho authorized seizure warrants for six virtual currency accounts, the DOJ said.
The accounts were allegedly used to launder proceeds of cryptocurrency confidence scams, the DOJ said. In the scams, fraudsters would cultivate long-term relationships with victims online to trick them into making investments in fraudulent crytocurrency trading platforms, it said
This story was produced by Bloomberg Law Automation.
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