Florida and Massachusetts Recover $5.4M in Crypto Fraud Assets from Romance Scam Scheme

Gate News message, April 16 — Florida and Massachusetts authorities recovered approximately $5.4 million in cryptocurrency assets from an investment fraud scheme that originated from romance scams. Of the recovered funds, $700,000 was returned to Florida victims and $1.3 million to Massachusetts victims, with remaining assets allocated to continued efforts against crypto fraud.

The Florida prosecutor's office stated that victims were distributed across six counties in the state, with a single Marion County victim suffering losses exceeding $450,000. The Florida Cyber Fraud Enforcement Division reported recovering $3.3 million in Q1 2026 alone, with cumulative recoveries of $7.2 million since its establishment 2.5 years ago.

An additional $12.6 million in frozen cryptocurrency assets related to the case remains under litigation.