INTERPOL seizes $293M, busts crypto scam network

INTERPOL's global operation resulted in 5,811 arrests, $293M seized, and 142,000+ victims identified. A Thai case saw $122.5M laundered via crypto wallets using cross-chain swaps to hide funds.

INTERPOL's Operation First Light 2026, spanning 97 countries from January 15 to April 30, led to 5,811 arrests and the seizure of $293 million in illicit assets. The operation targeted social engineering scams and associated money laundering activities, identifying over 142,000 victims and blocking more than 31,000 bank accounts. A notable case in Thailand involved two arrests tied to a romance scam money laundering network. Authorities discovered that a 20-year-old suspect's crypto wallet processed over $122.5 million in just 10 months. The suspects utilized cross-chain token swaps to obscure the movement of illicit funds between different cryptocurrencies, complicating efforts to trace the money. INTERPOL employed its Global Rapid Intervention of Payments (I-GRIP) mechanism to block illicit transfers of both fiat and virtual assets. The operation highlights the increasing use of cryptocurrencies in laundering proceeds from online scams and underscores the challenges authorities face in tracing such funds.