The US financial crimes watchdog FinCEN has identified approximately $12.7 billion in suspected fraudulent transactions linked to fake digital asset investment platforms between September 2023 and December 2025. These criminal operations, primarily run by transnational organizations based in Cambodia, Myanmar, and Laos, heavily rely on stablecoins, particularly Tether’s USDT, for laundering funds. Reported scam activity is growing at an average monthly rate of 18%, with expansion now extending to South Asia, the Middle East, and Africa. US victim losses from digital asset investment fraud reached $7.2 billion in 2025 alone, according to the FBI.
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