## US Law Enforcement Seizes $1.5 Million in Crypto Assets Linked to Fraud Suspect

The Cybercrime Division of Florida recently announced the bust of a major cryptocurrency fraud case. Authorities successfully froze digital assets associated with an overseas suspect, totaling approximately $1.5 million, including various cryptocurrencies such as AVAX, DOGE, PEPE, and SOL. Pursuant to a court order, authorities have obtained the authority to seize all assets under the name of suspect Tu Weizhi.

**Typical Ponzi Scheme: From Small-Scale Scams to Million-Dollar Fund Chains**

The trigger for this case was relatively minor. In July 2024, an investor from Citrus County reported being defrauded of $47,421. The investor claimed to have participated in a so-called "online investment project," with funds ultimately flowing into a digital wallet confirmed to be linked to Tu Weizhi. Through tracing the fund flow, investigators gradually uncovered the full scope of this large-scale scam network, ultimately revealing that the total victimized funds had reached the level of $1.5 million.

**Cross-Border Crime: Chinese Citizen Faces Multiple Felonies**

Currently, Tu Weizhi is overseas and faces charges including money laundering, major theft, and organized fraud. Florida authorities have notified border enforcement agencies that if the suspect attempts to enter the United States, they will be immediately arrested. This indicates that the case has escalated to a serious cross-border crime level, involving not only financial fraud but also unclear sources of funds and organized scam characteristics—hallmarks of a Ponzi scheme.

**Crypto Market Warning: Key Points to Identify Risky Investment Projects**

This case serves as a reminder to crypto investors that seemingly attractive "online investment opportunities" often conceal risks. Features similar to Ponzi schemes include promising returns above market average, requiring participants to invite new members for profit sharing, and opaque fund flows. When choosing investment channels, investors should carefully verify the legitimacy of projects and transparency of fund usage to avoid becoming the next victim.