$10B Lost: US Cracks Down on Burma and Cambodia Crypto Scam Networks

TLDR: Treasury sanctions hit scam hubs in Burma and Cambodia after Americans lost $10B to crypto scams in 2024. Scam centers in Shwe Kokko and Sihanoukville used trafficked labor to run fake crypto investment platforms. OFAC targeted groups linked to the Karen National Army and Chinese investors running Cambodian casinos. Sanctioned companies face frozen assets [...]

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