US Seizures of Pig Butchering Proceeds from Chinese Criminals Tops $580 Million
March 9, 2026
The U.S. Attorney for the District of Columbia, Jeanine Ferris Pirro, announced that the Scam Center Strike Force has frozen and seized over $580 million in cryptocurrency. This milestone, achieved in just three months since the task force’s launch in November 2025, targets fraud linked to Chinese transnational criminal organizations (TCOs) operating scam compounds in Southeast Asia, including Burma, Cambodia, and Laos.
These groups run “pig butchering” schemes—building trust with victims via U.S. social media or texts before luring them into fake cryptocurrency investment platforms, often defrauding Americans of billions annually (estimated at nearly $10 billion per year). Many scam workers are human trafficking victims, forced to operate under armed guard.
The Strike Force, led by Assistant U.S. Attorney Karen P. Seifert and involving the DOJ’s Criminal Division (including CCIPS, Fraud, and MLARS sections), FBI, U.S. Secret Service, IRS Criminal Investigation, and partner U.S. Attorney’s Offices in Rhode Island and Western Washington, focuses on identifying key leaders and disrupting operations.
Pirro emphasized aggressive pursuit of forfeitures to return funds to victims, stating the office is “fighting like hell” to recover stolen savings from these crimes. This effort represents a major U.S. response to transnational crypto fraud exploiting everyday Americans.
The Press Release highlights U.S. Attorney Pirro’s following comments:
In November, I announced the creation of our Scam Center Strike Force to lead the charge. In only three months, we have made significant progress, freezing, seizing, and forfeiting cryptocurrency worth more than $580 million from these criminals. These criminals don’t care who you are, what you believe in, or what you ate for breakfast—all they want is to steal from good and honest Americans to line the pockets of Chinese organized crime,”
My office and our law enforcement partners around the country are taking this threat head on. Seizures of cryptocurrency is one important part of the Scam Center Strike Force’s work. Through the legal process, my Office will seek to forfeit these funds and return them to victims to the maximum extent possible. To our American victims: we are here for you, we care for you, and we will continue fighting like hell to claw back your hard-earned savings from the hands of Chinese TCOs.
The United States Attorney’s Office Press Release can be found here.
The article “US Seizures of Pig Butchering Proceeds from Chinese Criminals Tops $580 Million” first appeared on G. Dowd Law on March 9, 2026.
George Dowd
Founding AttorneyGeorge Dowd is an attorney and also provides subject matter expert consulting services related to the foreign exchange, futures, cryptocurrency, and metals markets. He holds a B.A. in Economics from the College of the Holy Cross, a J.D. from the DePaul University College of Law, and is admitted to practice law in Illinois.
George has testified as an expert in proceedings before the National Futures Association, FINRA, the London Court of International Arbitration (LCIA), and the Federal Court of Australia. He served on the Board of Directors of the Global Digital Asset & Cryptocurrency Association in 2020 and 2021.
George has given presentations, or lectured, at the People’s Bank of China (Shanghai), the DePaul University Graduate School of Business, the National Futures Association, and the Chicago Bar Association’s Futures and Derivatives Committee, and has appeared frequently on CNBC, Bloomberg TV, and the Fox Business Network.
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