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UNIUAE-led coalition identifies $39bn in fraud-linked crypto, 960 arrested
A three-month operation involving 30 countries and 13 private partners thwarted more than 123 million online fraud attempts and blocked over 4,000 bank accounts, the UAE Ministry of Interior says.
Why it matters: The operation shows how far authorities will go after crypto-linked fraud, with billions in assets identified for seizure and major tech and payments firms joining the effort.
Key points
- Operation Confrontation Ghost ran for three months with law enforcement from 30 countries, including Interpol and the Global Anti-Scam Alliance.
- More than 960 people were arrested, 3,500 suspects and 15,000 victims identified, and 29 fraud centres raided.
- Authorities identified over $39bn in fraud-linked digital assets for seizure and used tokenised assets to secure $12bn in transactions.
The United Arab Emirates Ministry of Interior says a UAE-led coalition identified more than $39bn in fraud-linked crypto assets during a three-month operation against international digital fraud networks. The ministry announced the results of Operation Confrontation Ghost on Wednesday, according to Bitcoin.com News.
Law enforcement from 30 countries took part, alongside Interpol, the Global Anti-Scam Alliance and 13 private partners including Huawei, Mastercard, Meta and TikTok. The operation thwarted over 123.71 million online fraud attempts, led to more than 960 arrests and saw 29 fraud centres raided.
Fraud tactics targeted
Authorities blocked over 4,000 bank accounts and closed 570 social media accounts tied to the schemes, while identifying 3,500 suspects and 15,000 victims, the Emirates News Agency reported. The coalition also used tokenised assets to secure $12bn in financial transactions.
The operation targeted groups involved in AI-enabled fraud, financial fraud through digital platforms and online sextortion, focusing on faster intelligence sharing and law enforcement response. Colonel Dana Al Marzouqi of the ministry stressed the value of international cooperation, while UNODC executive director Dr. Monica Kathina Juma said the use of digital technologies and cryptocurrencies to move and conceal funds requires stronger coordination. The UAE and Sweden dismantled a crypto-laundering gang with links to contract killings in September.
Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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