FinCEN links $12.7B in crypto scams to organized crime operations in Asian compounds, with activity expanding geographically.
Regulation & Gov ·
The U.S. Treasury Department's Financial Crimes Enforcement Network has attributed roughly $12.7 billion in suspicious activity to crypto investment scams operated from Southeast Asian compounds, based on analysis of 33,904 reports filed between September 2023 and December 2025. Monthly reported sums increased by an average of 18% over that period, while scammers predominantly converted stolen funds into stablecoins—particularly USDT—and moved proceeds through offshore DeFi protocols and exchanges. Interpol has warned that the compound-based fraud model is spreading beyond Southeast Asia, though authorities caution that reported figures may reflect wider adoption of detection methods and potential double-counting of transfers.