U.S. Treasury Sanctions 19 Entities in Myanmar and Cambodia Over Crypto Scams

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on 19 entities operating in Myanmar and Cambodia, targeting large-scale crypto scams that defrauded Americans of over $10 billion in 2024. The operations, linked to 'pig butchering' frauds, involved forced labor, human trafficking, and violence. The sanctioned entities, including those in Myanmar's Shwe Kokko region and Cambodia’s former casino hubs, exploited vulnerable individuals, with some scams facilitated through crypto platforms. These sanctions aim to freeze U.S.-based assets and block transactions with the designated entities, marking a significant effort to combat cybercrime and human trafficking.

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