Whitfield & Crane Recovers $34 Million for Victims of International Crypto Trading Scam
Press Release
Whitfield & Crane LLP announced today that its Digital Asset & Crypto Fraud team has recovered $34 million for more than 1,200 victims of an international crypto trading scam that operated through a network of fake exchanges across four continents.
The recovery, completed in under five months, required tracing funds through 14 exchanges, three mixing services and a layered web of shell companies. The firm secured freezing orders in six jurisdictions before negotiating a structured return of assets.
“These scams are designed to disappear. Our job is to move faster than they can,” said Margaret Chen, who led the investigation. “The victims included teachers, nurses and first-generation investors — people who deserved a team that would not give up.”
The firm continues to pursue claims against third-party enablers, including payment processors and promotional platforms that facilitated the scheme.