US freezes $700M in crypto amid crackdown on Southeast Asian fraud ring

The U.S. Department of Justice has frozen $700 million in cryptocurrency as part of a crackdown on a Southeast Asian fraud ring, BeInCrypto reported. The DOJ indicted Chinese nationals Huang Xingshan and Zhang Wenzhe on charges of conspiracy to commit wire fraud. Authorities also blocked over 500 websites and Telegram channels related to fraudulent investment platforms.