The U.S. Attorney’s Office for the Western District of Washington filed a civil action on Tuesday seeking the forfeiture of over $7 million in digital assets recovered from a massive crypto scheme, a new press release from the Department of Justice shows. Fraudsters Stole $97 Million in Crypto Scheme, New Press Release Shows According to the July 23 press release , U.S. officials are looking to forfeit $7.1 million, just a sliver of the $97 million stolen by a handful of crypto fraudsters between June 22 and July 24. U.S. commences civil action to forfeit $7.1 million in cryptocurrency tied to oil and gas storage fraud scheme – Crypto seized from wallets tied to Russian and Nigerian IP addresses https://t.co/LoCQb0yC06 — WDWAnews (@WDWAnews) July 22, 2025 Recovered in December 2024, the illicit funds were laundered as part of a complex oil tank rental scheme involving Newcastle, Washington resident Geoffrey K. Auyeung. “The co-schemers in this fraud moved their ill-gotten gain through various cryptocurrency accounts to try to launder the money stolen from victims,” said Acting U.S. Attorney Miller. “Federal investigators and prosecutors in our office moved as quickly as possible to trace and seize the cryptocurrency so that some of the losses can be returned to victims.” Crypto Fraudster Faces Up to 200 Years Behind Bars Indicted in August 2024, Auyeung and his unnamed co-conspirators allegedly convinced unwitting victims to move their funds into escrow accounts based in Europe and Texas in order to generate “significant profits” from renting out oil tanks there. Once victims sent their money, the crypto fraudsters stopped responding and shuffled the funds to crypto accounts in Russia and Nigeria—one of which had ties to a terrorist organization. “The money was quickly moved to one or more of at least 81 different accounts at financial institutions, moved offshore, or moved to one or more of at least 19 different cryptocurrency accounts, where it was used for the purchase of cryptocurrencies, including Bitcoin, Tether, USD Coin, and Ethereum,” the press release states. Auyeung faces a maximum of 200 years behind bars if convicted for the international crypto fraud , though sentencing varies per jurisdiction.The U.S. Attorney’s Office for the Western District of Washington filed a civil action on Tuesday seeking the forfeiture of over $7 million in digital assets recovered from a massive crypto scheme, a new press release from the Department of Justice shows. Fraudsters Stole $97 Million in Crypto Scheme, New Press Release Shows According to the July 23 press release , U.S. officials are looking to forfeit $7.1 million, just a sliver of the $97 million stolen by a handful of crypto fraudsters between June 22 and July 24. U.S. commences civil action to forfeit $7.1 million in cryptocurrency tied to oil and gas storage fraud scheme – Crypto seized from wallets tied to Russian and Nigerian IP addresses https://t.co/LoCQb0yC06 — WDWAnews (@WDWAnews) July 22, 2025 Recovered in December 2024, the illicit funds were laundered as part of a complex oil tank rental scheme involving Newcastle, Washington resident Geoffrey K. Auyeung. “The co-schemers in this fraud moved their ill-gotten gain through various cryptocurrency accounts to try to launder the money stolen from victims,” said Acting U.S. Attorney Miller. “Federal investigators and prosecutors in our office moved as quickly as possible to trace and seize the cryptocurrency so that some of the losses can be returned to victims.” Crypto Fraudster Faces Up to 200 Years Behind Bars Indicted in August 2024, Auyeung and his unnamed co-conspirators allegedly convinced unwitting victims to move their funds into escrow accounts based in Europe and Texas in order to generate “significant profits” from renting out oil tanks there. Once victims sent their money, the crypto fraudsters stopped responding and shuffled the funds to crypto accounts in Russia and Nigeria—one of which had ties to a terrorist organization. “The money was quickly moved to one or more of at least 81 different accounts at financial institutions, moved offshore, or moved to one or more of at least 19 different cryptocurrency accounts, where it was used for the purchase of cryptocurrencies, including Bitcoin, Tether, USD Coin, and Ethereum,” the press release states. Auyeung faces a maximum of 200 years behind bars if convicted for the international crypto fraud , though sentencing varies per jurisdiction.
Washington State Moves To Forfeit $7.1 Million Worth Of Crypto From International Fraud Scheme
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com
The U.S. Attorney’s Office for the Western District of Washington filed a civil action on Tuesday seeking the forfeiture of over $7 million in digital assets recovered from a massive crypto scheme, a new press release from the Department of Justice shows.
Fraudsters Stole $97 Million in Crypto Scheme, New Press Release Shows
According to the July 23 press release, U.S. officials are looking to forfeit $7.1 million, just a sliver of the $97 million stolen by a handful of crypto fraudsters between June 22 and July 24.
Recovered in December 2024, the illicit funds were laundered as part of a complex oil tank rental scheme involving Newcastle, Washington resident Geoffrey K. Auyeung.
“The co-schemers in this fraud moved their ill-gotten gain through various cryptocurrency accounts to try to launder the money stolen from victims,” said Acting U.S. Attorney Miller. “Federal investigators and prosecutors in our office moved as quickly as possible to trace and seize the cryptocurrency so that some of the losses can be returned to victims.”
Crypto Fraudster Faces Up to 200 Years Behind Bars
Indicted in August 2024, Auyeung and his unnamed co-conspirators allegedly convinced unwitting victims to move their funds into escrow accounts based in Europe and Texas in order to generate “significant profits” from renting out oil tanks there.
Once victims sent their money, the crypto fraudsters stopped responding and shuffled the funds to crypto accounts in Russia and Nigeria—one of which had ties to a terrorist organization.
“The money was quickly moved to one or more of at least 81 different accounts at financial institutions, moved offshore, or moved to one or more of at least 19 different cryptocurrency accounts, where it was used for the purchase of cryptocurrencies, including Bitcoin, Tether, USD Coin, and Ethereum,” the press release states.
Auyeung faces a maximum of 200 years behind bars if convicted for the international crypto fraud, though sentencing varies per jurisdiction.
Market Opportunity
Threshold Price(T)
$0.006683
$0.006683$0.006683
USD
Threshold (T) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
U.S. Oil Production Is On Pace For A New Record, But Growth Is Slowing
The post U.S. Oil Production Is On Pace For A New Record, But Growth Is Slowing appeared on BitcoinEthereumNews.com. FORT STOCKTON, TEXAS – MARCH 24: The sun sets behind a pumpjack during a gusty night on March 24, 2024 in Fort Stockton, Texas. Employment in Texas has reached record highs, with the oil- and gas-producing Permian Basin, which covers a large swathe of west Texas, leading the way. Permian Basin towns of Midland and Odessa notched 2.6 and 3.5 percent unemployment respectively, according to the report touted earlier this month by Gov. Gregg Abbott. (Photo by Brandon Bell/Getty Images) Getty Images For the past two years, the United States has set oil production records. This growth is a continuance of the surge in oil production resulting from the shale boom that began earlier this century. According to data from the Energy Information Administration, U.S. oil production average 13.2 million barrels per day in 2024, up from 12.7 million in 2023 and 12.5 million in 2022. U.S. Oil Production 1860-2024. Energy Information Administration It is now clear that the U.S. is on track this year to set its third consecutive annual record for crude oil production. Year-to-date production through the week ending September 12, 2025 shows a production level of 13.44 million BPD, which is about 1.9% ahead of last year’s record pace. But beneath those headline numbers, a subtle shift is underway: growth is slowing. The slowdown becomes clear if we look at the year-over-year percentage changes over the past 20 years. Annual Oil Production Change 2006-2025 YTD. Robert Rapier There have been only two other periods in the past 20 years where U.S. oil production growth slowed for three consecutive years, but both of those instances had extenuating circumstances. The first was from 2014 through 2016, when a price war launched by OPEC triggered a collapse in oil prices and forced U.S. producers to slash drilling activity. The…
Share
BitcoinEthereumNews2025/09/18 18:35
Silver Prices Edge Closer to a Pivotal Support and Resistance Test
The post Silver Prices Edge Closer to a Pivotal Support and Resistance Test appeared on BitcoinEthereumNews.com. The silver market, although experiencing recent
Share
BitcoinEthereumNews2026/03/07 11:29
![[Newspoint] Overpaid troll](https://www.rappler.com/tachyon/2026/02/Screenshot-2026-02-23-at-8.11.02-PM.png?resize=75%2C75&crop=439px%2C0px%2C1070px%2C1070px)
[Newspoint] Overpaid troll
KAUFMAN. Former president Rodrigo Duterte's lawyer Nicholas Kaufman delivers his opening statement before the ICC Pre-Trial Chamber I on February 23, 2026.
Share
Rappler2026/03/07 11:00