On July 17, 2025, the United States Attorney’s Office took action against operators of a fraudulent cryptocurrency investment platform known as "Triangular." A temporary restraining order was obtained to suspend access to two websites associated with this platform.
A civil forfeiture complaint was also filed in the U.S. District Court for the Western District of Missouri concerning over $325,000 in cryptocurrency linked to this scam. The FBI utilized blockchain analysis and other methods to connect these funds to victims of the Triangular investment fraud scheme.
The complaint states that between July and October 2024, millions were laundered through two cryptocurrency addresses tied to this scheme. One victim from the Western District of Missouri reportedly lost more than $16 million.
Scammers targeted victims via unsolicited social media messages on platforms like LinkedIn. After forming relationships, they introduced victims to Triangular, promising significant gains with minimal risk. Victims saw manipulated account returns and were encouraged to invest more. However, attempts to withdraw profits led to demands for false fees or taxes, resulting in no money recovery for the victims.
These types of scams cost Americans billions annually according to the FBI Internet Crime Complaint Center's 2024 report.
Victims of such frauds are advised to report them at https://www.ic3.gov or https://reportfraud.ftc.gov and contact local law enforcement.
Allegations in these complaints remain unproven until further legal proceedings. A preliminary injunction hearing is set for August 6, 2025, before U.S. District Judge Brian C. Wimes under case number United States v. John Doe, No. 4:25-cv-00529-BCW.
The investigation is managed by the FBI Kansas City Field Office with civil cases handled by Assistant U.S. Attorney John Constance. The Department of Justice acknowledges Tether's role in asset transfer assistance.
Alerts Sign-up