Coinbase freezes $3 million in funds linked to Southeast Asian crypto fraud network

CoinFeed reported on June 4th that, according to Cointelegraph, Coinbase has frozen over $3 million in cryptocurrency linked to a Southeast Asian crypto fraud network. This operation is part of "Disruption Week," a campaign led by the U.S. Department of Justice's Fraud Center, aimed at combating crypto fraud targeting U.S. citizens. Meta, Microsoft, and Starlink also participated in the operation, jointly dismantling servers and hosting infrastructure associated with the fraud network and disrupting criminal activity on over 1.4 million social media and email accounts. The Royal Thai Police's Anti-Cyber ​​Fraud Center has made multiple arrests. The U.S. Department of Justice stated that investment fraud and "pig butchering" scams are the fastest-growing and most financially destructive types of fraud targeting Americans.