Coinbase freezes $3 million in funds related to Southeast Asian crypto fraud network

According to Cointelegraph, Coinbase has frozen over $3 million in cryptocurrency related to a Southeast Asian crypto fraud network. This action is part of the "Disruption Week" initiative led by the U.S. Department of Justice's Fraud Center, aimed at combating crypto fraud targeting American citizens. Meta, Microsoft, and Starlink also participated in this operation, collectively cutting off servers and hosting infrastructure associated with the fraud network, disrupting criminal activities across more than 1.4 million social media and email accounts. The Royal Thai Police's Anti-Fraud Center has carried out multiple arrests. The U.S. Department of Justice stated that investment fraud and pig butchering scams are the fastest-growing and most financially destructive types of fraud targeting Americans. Coinbase stated that blockchain technology provides law enforcement with transparent, immutable, and permanent transaction records that traditional financial systems often cannot offer.