U.S. Treasury Targets Crypto Scam Networks in Myanmar and Cambodia Linked to Forced Labor and Human Trafficking

The U.S. Treasury has sanctioned 19 entities involved in extensive crypto scam operations in Myanmar and Cambodia that defrauded Americans of over $10 billion in 2024. These networks exploit forced labor and human trafficking, particularly in compounds like Yatai New City, to run fraudulent cryptocurrency schemes. The sanctions freeze U.S. assets of the entities and prohibit Americans from transacting with them, marking a significant move in combating cyber fraud and modern slavery in Southeast Asia. Continue to read U.S. Treasury Targets Crypto Scam Networks in Myanmar and Cambodia Linked to Forced Labor and Human Trafficking