Meta, Starlink and Microsoft Partner with FBI to Delete More Than 1.4 Million Accounts and Seize Millions in Cryptocurrencies Related to Huge Scam Rings Targeting Americans

63 suspects arrested in dismantling of multinational scam
Millions in cryptocurrency assets seized
Technology companies deactivated millions of fraudulent accounts

Dozens of people have been arrested and millions of dollars in cryptocurrency seized in a large-scale multinational operation targeting internet fraudsters and fraudsters.

On May 18, the US Department of Justice, the FBI, the Secret Service, law enforcement agencies in the United Kingdom, Australia, Canada, New Zealand and Thailand, as well as multiple commercial companies such as Meta, Coinbase and Starlink, participated in the dismantling of a scam ring in Southeast Asia.

In a press release published earlier this week, Meta revealed details of the operation, saying that 63 suspects were arrested, while Coinbase froze more than $3 million in cryptocurrency assets. At the same time, Meta disabled more than 1.4 million Facebook and Instagram accounts, pages and groups, while Microsoft suspended approximately 20,000 fraudulent accounts linked to the scam network.

Identifying more scams

Meta said intelligence shared between these companies and agencies led to the identification of “many potentially new scam hub locations and networks,” which were referred to authorities. Starlink participated by cutting the connectivity of thousands of kits that were attributed to illegal use.

The announcement did not say what the nature of the scam was, or whether the group had a name or any hierarchy. Scams involving cryptocurrency are typically romance or investment scams (or a combination). Users are encouraged to “invest” in fraudulent platforms, under the promise of huge financial profits. Romance scams work in a similar way, tricking victims into believing they are “investing” with a future partner.

Sometimes, scammers engage in so-called “pig slaughter” scams, gradually cultivating relationships with victims before persuading them to transfer funds to fraudulent cryptocurrency platforms. Even when victims realize they cannot withdraw money, scammers maintain their character, posing as customer service and promising the victim the release of funds if they pay “taxes” or “withdrawal fees.”