FBI Director Kash Patel issued a pointed warning to crypto fraud operators, declaring the bureau will hunt down those behind so-called “pig butchering” scams targeting Americans.
Patel posted on social media:
“Crypto Fraudsters have been scamming and taking advantage of the America people for too long. No more! This FBI will find you, and we will bring you to justice!”
What pig butchering scams look like
Pig butchering schemes involve criminals building trust with victims online—often through fake romantic relationships or investment opportunities—before convincing them to deposit large sums into fraudulent platforms.
The FBI has noted these scams disproportionately affect elderly Americans and teenagers.
Operation Blackout’s results
Patel’s crackdown has already produced significant results.
In May, the FBI’s “Operation Blackout” seized roughly $8 billion in cryptocurrency, including over 127,000 BTC, and led to more than 300 arrests across Cambodia, Dubai, and Thailand.
The operation targeted scam centers in Asia, Africa, and the Middle East, many of which were also linked to human trafficking networks.
Elon Musk’s Starlink reportedly aided the effort.
Operation Level Up and victim outreach
The FBI’s anti-fraud push dates back to 2024, when it launched “Operation Level Up” to proactively identify and notify victims of crypto fraud before they lost more money.
By December 2025, the program had alerted over 8,000 victims and saved an estimated $500 million.
The bureau also reported that 80 victims were referred for suicide intervention, underscoring the devastating personal toll of these crimes.
