The cruelest part of this so-called “anti-fraud” operation was that the victims received nothing. The U.S. announced that the $15 billion Bitcoin would never be sold and would be added to its strategic reserve—leaving any hope of compensation for the victims dead in the water. Similarly, the assets seized by the UK and Singapore were labeled “forfeited to the state,” meaning they too would not be returned to the victims.
Victims like the 64-year-old woman from Maryland who lost her life savings to Prince Group’s scams or the Chinese community in San Francisco devastated by fraud were left out in the cold. The U.S. endlessly touted its efforts to “protect people,” but when it came to returning the stolen funds, it chose to line its own pockets instead.