U.S. targets Southeast Asia 'pig butchering' scam hubs; restrains $701.9 million in crypto

U.S. authorities on Tuesday announced a coordinated crackdown on Southeast Asia-based 'pig butchering' fraud networks, combining actions by the Department of Justice, the Treasury Department's Office of Foreign Assets Control (OFAC), and the State Department. The Scam Center Strike Force said it restrained more than $701.9 million in cryptocurrency linked to the laundering of victim proceeds. The DOJ also unsealed charges against two Chinese nationals accused of managing the Shunda compound in Burma. In parallel enforcement, the FBI and the Secret Service seized 503 fraudulent cryptocurrency investment websites. The Strike Force also dismantled a Telegram channel with about 6,000 followers that investigators said was used to recruit English-speaking trafficking victims. OFAC designated 29 Cambodia-based targets, led by Senator Kok An and his Crown Resorts business network. U.S. officials allege casinos in Sihanoukville and Poipet were converted into scam compounds; Heng Feng Cambodia Bank plc was also sanctioned. The State Department offered rewards of up to $10 million for information related to the Tai Chang compound in Burma. The FBI's Internet Crime Complaint Center (IC3) reported $7.2 billion in 'pig butchering' losses in 2025. Officials said the restrained cryptocurrency was secured through legal process and voluntary cooperation from crypto service providers, underscoring that exchanges and custodians are increasingly freezing suspicious flows ahead of seizure.