The U.S. Attorney’s Office for the Eastern District of Virginia has recovered nearly $1.7 million in cryptocurrency connected to an investment fraud scheme, according to a statement released on December 5, 2025. The funds—420,740.422314 USDT (Tether) and 1,249,996.15 BUSD (Binance USD)—were seized through civil asset forfeiture and are being returned to victims.
Court documents indicate that the fraudsters contacted their victims through unsolicited text messages and social media communications that appeared accidental. After establishing contact, they persuaded the victims to continue conversations on encrypted chat applications. The perpetrators built trust before encouraging the victims to invest in cryptocurrency using a fake investment website designed to resemble a legitimate platform. Instead of investing the money as promised, the site directed all funds directly to those running the scam.
The fraudulent website showed false gains on investments and prevented significant withdrawals by inventing reasons such as taxes or fees owed on supposed profits. Victims were coerced into sending additional money but were never allowed to withdraw more than minimal amounts.
After acquiring the stolen funds, those responsible attempted to hide their activities by quickly exchanging different types of cryptocurrencies and moving assets between wallets.
The United States Secret Service seized the cryptocurrency from three wallets linked to the case. A civil forfeiture complaint was filed in U.S. District Court against these assets.
Lindsey Halligan, U.S. Attorney for the Eastern District of Virginia; William Mancino, Special Agent in Charge of the U.S. Secret Service Criminal Investigative Division; and Meghan Dubea, Resident Agent in Charge of the U.S. Secret Service Raleigh Resident Office announced these actions.
“This matter was handled by Assistant U.S. Attorney Kevin Hudson.”
Further information about this case can be found on the website of the U.S. Attorney’s Office for the Eastern District of Virginia or through PACER by searching Case No. 3:25-cv-713.
