A massive, coordinated international law enforcement operation has struck a blow to the booming cryptocurrency scam industry. Authorities have arrested 276 people and dismantled at least nine cryptocurrency scam centers in a coordinated international crackdown targeting fraud networks that preyed on U.S. investors. Dubai Police led the operation with support from the Federal Bureau of Investigation (FBI) and China’s Ministry of Public Security, in one of the largest recent actions against cross-border crypto scams.
As per the release by the U.S. Department of Justice, Dubai authorities detained 275 suspects, while Thailand’s Royal Thai Police arrested another person linked to the network. U.S. prosecutors have charged several suspects with wire fraud and money laundering, increasing pressure on operators running these schemes from abroad.
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Coordinated global enforcement effort
Investigators revealed that these syndicates operated their scam centers disguised as corporate investment firms, using fake platforms to draw victims into cryptocurrency trades. Once victims transferred funds, they lost control of their assets. The schemes relied on “pig-butchering” —a psychologically manipulative tactic where scammers build fake friendships or romantic relationships with victims over weeks or months. Once trust is established, victims are persuaded to transfer funds into what they believe are legit crypto investment platforms.
“Fraudsters who target Americans from overseas cannot operate with impunity, no matter where in the world they reside,” said Assistant Attorney General A. Tysen Duva.
The FBI has identified thousands of victims through its Internet Crime Complaint Center and traced millions of dollars in losses. Through Operation Level Up—a joint initiative originating in San Diego and Phoenix—federal agents warned nearly 9,000 victims and helped prevent an estimated $562 million in further losses. The case highlights the growing importance of international cooperation in tackling increasingly sophisticated fraud networks.
Rising threat of crypto fraud
Americans lost more than $20 billion to online scams in 2025, with cryptocurrency fraud accounting for $11.4 billion, according to new data. Authorities say investment scams drove most of the losses, with older individuals among the hardest hit, losing an estimated $7.7 billion.
“These scammers thought they were safe half a world away,” said U.S. Attorney Adam Gordon.
In Europe, law enforcement agencies reported separate arrests in Albania tied to similar scam centers. Investigators described highly organized operations with hundreds of employees managing customer acquisition, finance, and technical systems.
With scammers continuously refining their psychological manipulation tactics, global task forces are proving to be the only effective mechanism for piercing the veil of these borderless criminal enterprises.
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