TechFlow news, December 3 — According to Decrypt, on December 3 the U.S. Department of Justice seized the domain tickmilleas.com linked to the Myanmar-based Tai Chang scam operation. The domain was used to display fake trading balances to victims in order to induce them to deposit funds. The FBI has confirmed multiple victims were defrauded within the past month. On the same day, Huione, a Cambodia-based financial group sanctioned by the U.S. and UK, shut down its Phnom Penh branch and froze withdrawals. The group is alleged to be key infrastructure behind Cambodia’s $19 billion annual scam economy. Google, Apple, and Meta have removed related apps and over 2,000 social media accounts. According to Department of Justice data, more than 41,000 cryptocurrency investment fraud cases were reported last year, resulting in losses totaling $5.8 billion.
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