The U.S. Attorney’s Office for the Southern District of Georgia has announced the forfeiture, liquidation, and return of approximately $84,327.50 to a victim who suffered losses in a cryptocurrency theft case.
U.S. Attorney Margaret E. Heap stated, “The Asset Forfeiture Unit of the U.S. Attorney’s Office, in coordination with the FBI and the Department of Justice’s Money Laundering, Narcotics and Forfeiture Section, worked diligently to locate, seize, and forfeit these funds, and thereafter, return money to the victim. This case demonstrates my office’s commitment to helping victims of crime. By using civil asset forfeiture, we can expeditiously recover as much stolen money as possible and return this money to victims. Although it can be difficult to come forward and admit that you were a victim of a crime, we stand ready to help you to the fullest extent possible. The U.S. Attorney’s Office will work with the victims in these cases and with the Department of Justice’s Money Laundering, Narcotics and Forfeiture Section to properly return forfeited assets to eligible victims. If you think you have been a victim of a cybercrime, file a detailed complaint with the Internet Crime Complaint Center at www.ic3.gov.”
According to court documents filed in Savannah federal court, in October 2024 a Richmond Hill resident discovered several unauthorized transactions involving their cryptocurrency account which resulted in about $124,000 being stolen. The individual reported this incident both locally and federally.
The Federal Bureau of Investigation (FBI) conducted an investigation into the matter by tracing most of the stolen cryptocurrency through various transactions that involved international actors including individuals based in Cambodia. Working together with federal prosecutors from the Asset Forfeiture Unit, agents were able to quickly seize these assets.
Earlier this year those seized digital funds were forfeited through civil proceedings held in Savannah federal court; after liquidation approximately $84K was returned directly back to its rightful owner.
Paul Brown—Special Agent in Charge at FBI Atlanta—noted: “The FBI is committed to pursuing justice for victims of cybercrime, no matter where the trail leads,” he said. “In this case our agents used advanced investigative techniques to trace stolen cryptocurrency across international borders and recover funds that otherwise might have been lost forever. We’ll continue working alongside our partners to identify cybercriminals seize their illegal gains—and restore assets—to those they’ve harmed.”
The FBI encourages anyone who believes they may be a victim of cybercrime or online fraud schemes—including incidents involving cryptocurrencies—to report details via its Internet Crime Complaint Center at www.ic3.gov.
Senior Litigation Counsel J. Bishop Ravenel represented the United States during these proceedings.