The U.S. Secret Service and the Asset Forfeiture Unit of the U.S. Attorney’s Office have taken swift action to assist victims of a business email compromise scheme, according to an announcement by U.S. Attorney Tessa M. Gorman. In December 2023, a real estate company reported that its system had been compromised, resulting in fraudsters obtaining over $1 million through false wire transfer instructions.

The investigation uncovered that at least ten other businesses or individuals were also targeted, with losses ranging from $75,000 to $425,000. The proceeds from these fraudulent activities were laundered through various bank accounts before being consolidated into a cryptocurrency wallet controlled by perpetrators in Nigeria.

Law enforcement quickly seized approximately 32.68 Bitcoin from this wallet, valued at around $900,000 at the time of seizure. The U.S. Attorney’s Office filed a civil forfeiture case against the seized Bitcoin, which has since more than tripled in value. This increase could potentially allow each of the ten victims who have filed claims to be fully compensated for their losses.

U.S. Attorney Gorman praised the efforts of law enforcement and the Asset Forfeiture Unit: “I commend the quick work by law enforcement and the Asset Forfeiture Unit who moved to seize this Bitcoin and are working diligently to make these victims whole.” She further highlighted civil forfeiture as "an important tool that we can use to help victims, even before the bad actors themselves have been arrested."