FCEN Helps Recover $29 Million in Cryptocurrency from BEC Scam for European Victim
In a major victory against international cybercrime, the Financial Crime Enforcement Network (FCEN) has successfully assisted a European business client in recovering $29 million USD lost to a sophisticated cryptocurrency-based Business Email Compromise (BEC) scam.
This landmark recovery underscores the power of global collaboration, advanced blockchain tracing, and rapid response protocols — and offers new hope to victims of high-value cyber fraud around the world.
The Case: A High-Stakes BEC Attack Disguised as a Routine Transaction
The victim, a European-based multinational logistics firm, was targeted through a carefully planned BEC operation in late 2024. Cybercriminals infiltrated the company’s executive email system using phishing emails and malicious attachments. Once inside, they monitored internal communications and identified a pending investment transfer.
The attackers impersonated a C-level executive and diverted the funds — which were intended for a legitimate crypto exchange investment — to a fraudulent digital wallet. Within minutes, $29 million USD in cryptocurrency was sent to what appeared to be a trusted address but was, in fact, part of a larger laundering network.
How FCEN Responded
After receiving a complaint via efincengovs.com, FCEN activated its Rapid Crypto Response Team, partnering with:
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Blockchain forensics specialists
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Major global exchanges
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Europol and Interpol
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National law enforcement agencies in multiple jurisdictions
Using real-time crypto tracking tools, the team quickly traced the stolen assets across a series of obfuscation wallets. Within 72 hours, a portion of the assets was frozen. Over the following weeks, collaborative efforts led to the full recovery of the $29 million and the identification of suspects tied to a transnational cybercrime ring.
A Message of Hope for Victims
“This recovery sends a clear message: scammers are not untouchable, and victims are not helpless,” said an FCEN spokesperson. “With the right tools, the right partners, and swift action, justice is possible — even in the volatile world of crypto.”
The case has been referred for prosecution, and several individuals have been arrested in connection with the scam. Investigations are ongoing to trace additional links and assets.
Our Commitment: Fraud Recovery and Prevention
At FCEN, we remain dedicated to helping victims of:
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Business Email Compromise (BEC)
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Cryptocurrency fraud
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Online scams and financial impersonation
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Romance and investment fraud
If you’ve been scammed — no matter the size or method — we encourage you to take immediate action:
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Visit efincengovs.com
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Click on “File a Complaint”
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Submit all evidence including transaction IDs, wallet addresses, and communication records
Our team will assess your case and, where possible, work to recover your funds and bring the perpetrators to justice.
Final Word
The successful recovery of $29 million in this case is not just a milestone — it’s proof that together, we can fight back against cybercrime. FCEN remains at the forefront of digital fraud investigation and recovery, and we’re here to help — wherever you are in the world.
Report. Recover. Rebuild.
Visit efincengovs.com to take the first step.
