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INTERPOL Arrests 5,500 in Global Cybercrime Crackdown, Seizes Over $400 Million. A global law enforcement operation has led to the arrest of more than 5,500 suspects involved in financial crimes and the seizure of more than $400 million in virtual assets and government-backed currencies. The coordinated exercise saw the participation of authorities from 40 countries, territories, and regions as part of the latest wave of Operation HAECHI-V, which took place between July and November 2024, INTERPOL said. "The effects of cyber-enabled crime can be devastating – people losing their life savings, businesses crippled, and trust in digital and financial systems undermined," INTERPOL Secretary General Valdecy Urquiza said in a statement. "The borderless nature of cybercrime means international police cooperation is essential, and the success of this operation supported by INTERPOL shows what results can be achieved when countries work together. It's only through united efforts that we can make the real and digital worlds safer." As part of HAECHI-V, INTERPOL said Korean and Beijing authorities jointly dismantled a widespread voice phishing syndicate responsible for financial losses totaling $1.1 billion and affecting over 1,900 victims. The fraudulent operation entailed the e-crime gang masquerading as law enforcement officials and using counterfeit identification. At least 27 members of the organized criminal group behind the scheme have been arrested, with 19 individuals subsequently indicted. INTERPOL has also issued a purple notice, warning of an emerging cryptocurrency fraud practice called the USDT Token Approval Scam that allows bad actors to drain victims' wallets by leveraging romance-themed baits to trick them into buying popular Tether stablecoins (USDT tokens) and investing them. "Once the scammers have gained their trust, the victims are provided with a phishing link claiming to allow them to set up their investment account," the agency said. "In reality, by clicking they authorize full access to the scammers, who can then transfer funds out of their wallet without the victim's knowledge." News of HAECHI-V comes nearly a year after INTERPOL said it arrested nearly 3,500 individuals and made seizures worth $300 million across 34 countries following a six-month operation. It also follows the arrest of 1,006 suspects across 19 African countries and the takedown of 134,089 malicious infrastructures and networks to tackle cybercrime in the continent.