Key Highlights
- Florida seized $1.5 million in cryptocurrency linked to a Chinese scammer.
- The victim reportedly lost $47,421 to an online investment scam in Citrus County.
- The suspect, Tu Weizhi, is charged with money laundering, grand theft, and fraud.
Prosecutors in Florida have reportedly seized about $1.5 million in cryptocurrency after tracking funds from a July 2024 Citrus County investment scam to a wallet tied to a Chinese national named Tu Weizhi.
The seizure happened on Thursday after investigators followed a payment trail that began when a local resident reported losing $47,421 to what appeared to be an online investment opportunity.
According to the release, officials moved to trace the money using a court order to secure the entire wallet connected to Tu. Prosecutors said the goal was not only to recover the victim’s money but also to stop the wider flow of funds linked to the alleged scheme.
Attorney General James Uthmeier said the effort was led by the Office of Statewide Prosecution’s Cyber Fraud Enforcement Unit. He noted the work of investigators, stating, “While scammers are changing their methods, I am proud of our Statewide Prosecutors’ ability to adapt and deliver justice.”
He also thanked the Citrus County Sheriff’s Office for its part in the case and noted that this effort helped make the victim whole again. According to the Attorney General’s office, the seized wallet held AVAX, Dogecoin, Pepe, and Solana tokens, with a combined value of about $1.5 million.
Charges against the suspect
Tu, who is believed to be in China, has been charged with money laundering, grand theft, and operating an organized scheme to defraud. Florida authorities said he will be arrested if he enters the United States.
The state carried out the seizure under its fugitive disentitlement rules, which allow courts to act against assets tied to criminal cases when the accused stays outside the U.S. jurisdiction. This process limits a suspect’s ability to use Florida courts unless they appear to face charges.
The case highlights how large the fraud landscape has become. In a report shared earlier this year, the Federal Trade Commission recorded more than $12 billion in fraud losses in 2024, and investment scams made up about $5.7 billion of that total.
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