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The U.S. government is working to return $7 million to victims of a sophisticated scam where fraudsters used social engineering techniques to trick them into transferring funds to fake cryptocurrency investment platforms.

According to a statement from the U.S. Attorney’s Office for the Eastern District of Virginia on March 21, the scammers approached victims, built trust, and then directed them to websites disguised as legitimate cryptocurrency investment platforms.

Once the victims transferred their funds, the money was funneled through more than 75 bank accounts under the names of shell companies before being sent overseas. These transactions were falsely labeled as domestic transfers, despite the funds actually being routed to a bank outside the United States.

The U.S. Attorney’s Office emphasized, “The fraudulent websites misled victims into believing their investments were generating significant returns.”

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