The U.S. Department of Justice recovers $225.3 million in Crypto Assets, accusing involvement in investment fraud and Money Laundering activities.

The U.S. Department of Justice today filed a civil forfeiture lawsuit in the U.S. District Court for the District of Columbia, alleging forfeiture of more than $225.3 million worth of cryptocurrency. According to the lawsuit, law enforcement used blockchain analysis and other investigative techniques to determine that the cryptocurrencies were linked to the theft and money laundering of the funds of victims of cryptocurrency investment scams. The complaint alleges that the cryptocurrency address holding more than $225.3 million in cryptocurrency is part of a sophisticated blockchain-based money laundering network that executes hundreds of thousands of transactions and is being used to disperse the proceeds of cryptocurrency investment fraud across a number of cryptocurrency addresses and accounts on the blockchain to disguise the source of illegally obtained funds.

It is reported that trial lawyers Stefanie Schwartz and Ethan Cantor from the Computer Crime and Intellectual Property Section (CCIPS) of the U.S. Department of Justice, along with Assistant U.S. Attorneys Kevin Rosenberg and Rick Blaylock Jr. from the District of Columbia, are handling this case.