U.S. authorities are working to return $7 million to victims of a social engineering scheme that deceived them into transferring money to fraudulent cryptocurrency investment platforms.

According to a March 21 announcement from the U.S. Attorney’s Office for the Eastern District of Virginia, the scammers built trust with their targets before directing them to fake websites posing as legitimate crypto investment services.

After victims deposited funds, the money was routed through more than 75 bank accounts registered under shell companies. Despite being transferred overseas, the transactions were disguised as domestic wire transfers.

The United States has recovered and cleared title to $7 million of investment fraud proceeds using civil asset forfeiture; victims may submit petitions to have the funds remitted back to them.#USSS #EDVA #justice https://t.co/h4DlRzQgZx

— U.S. Attorney EDVA (@EDVAnews) March 21, 2025

“These fraudulent sites misled victims into believing their investments were generating significant returns,” the U.S. Attorney’s Office stated.

"When victims tried to withdraw their supposed profits, the fraudsters pressured them to send additional funds, often claiming taxes were owed on the gains."

In 2023, the U.S. Secret Service recovered a portion of the stolen funds from a foreign bank and initiated a civil forfeiture case by filing a claim in U.S. District Court. The bank involved also filed a claim to the funds, but authorities eventually negotiated a $7 million settlement from the seized assets.

Victims are now being encouraged to contact the Secret Service to file petitions in order to recover their losses.

Now, the DOJ is working to return these recovered funds to the victims. Individuals who believe they were affected by this scam are being urged to contact the U.S. Secret Service. This case highlights the increasing prevalence of complex cryptocurrency scams and the ongoing efforts of U.S. law enforcement to recover stolen assets and protect investors.