In a bold and emotional move, U.S. Attorney for the District of Columbia Jeanine Pirro announced the creation of a new federal strike force aimed at dismantling Chinese organized crime networks and cryptocurrency investment fraud schemes that have devastated American families — especially the elderly.
At a packed press conference in Washington, Pirro detailed the heartbreaking stories that pushed her office to act. One case involved an elderly woman who lost over $1 million — her entire life savings — to a fraudulent crypto investment platform run by overseas criminals. Another victim, a middle-aged man, took his own life after realizing he had been conned out of his retirement funds.
“The consequences of these scams are devastating,” Pirro said, her voice heavy with emotion. “Older Americans, in particular, are targets. Many of them are lonely, trusting, and simply looking for connection — and these criminals exploit that with surgical cruelty.”
The new Strike Force on International Financial Exploitation will include agents from the FBI, IRS Criminal Investigations, and the Department of Homeland Security, with specialized units focused on tracking cross-border crypto transactions. Pirro said the initiative’s mission is simple: “Find them, stop them, and make them pay.”
Investigators believe many of these scams originate from transnational crime syndicates operating out of China, Southeast Asia, and Eastern Europe, using social media and dating apps to lure victims into fake “investment” platforms that promise enormous returns. Once victims deposit money, the funds vanish into untraceable digital wallets.
“This isn’t just financial fraud,” Pirro warned. “It’s emotional and psychological warfare against our most vulnerable citizens.”
Cybersecurity experts estimate that Americans lost more than $3.5 billion to crypto-related scams in 2024, a record high — with seniors representing nearly 40% of those victims. Pirro’s initiative seeks to reverse that trend by combining data tracking, undercover cyber operations, and aggressive prosecution.
“Justice has no borders,” Pirro declared. “Whether you’re hiding behind a keyboard in Beijing or a luxury condo in Miami, if you steal from American citizens, we will find you.”
Her message was clear — and chilling to criminals: The era of impunity for global crypto fraud is over.
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