FBI chief says Operation Blackout has seized over $15 billion in crypto

FBI Director Kash Patel said Operation Blackout, a campaign targeting global investment-scam networks, remains underway and has already produced major results. In a social media post dated August 4, 2026, Patel said authorities have seized more than $15 billion in cryptoassets, shut down over 500 fraudulent investment websites, dismantled dozens of scam compounds, and arrested hundreds of suspects. He also said the operation freed thousands of human-trafficking victims, removed millions of scam-linked accounts, and warned more than 10,000 Americans before they lost money—steps the FBI estimates helped prevent over $500 million in losses. "We are no longer just going after scammers. We are dismantling the networks that profit from them," Patel wrote, adding that the initiative was launched under U.S. President Donald Trump's leadership. Patel did not disclose how the FBI valued the seized crypto or the time period covered by the figures. The post triggered a split response online. Some users applauded the crackdown and argued the statistics reflect real families harmed by fraud. Others questioned the bureau's priorities and called for greater focus on domestic threats. Several comments also criticized the Trump administration; one user alleged hypocrisy, while another said her stepfather lost a significant sum after falling for an investment scheme. In May 2026, the FBI said it had completed what it described as the largest crypto seizure on record—$8 billion—also tied to Operation Blackout. At that time, the agency identified Chen Zhi, CEO of Cambodia-based Prince Holding Group, as a central figure in the case.