Florida state prosecutors have seized approximately $1.5 million in cryptocurrency from a wallet linked to an alleged overseas investment scam. The seizure was authorized by a court order obtained by the Office of Statewide Prosecution’s Cyber Fraud Enforcement Unit, led by Attorney General James Uthmeier.
The investigation began in July 2024 when a resident of Citrus County reported losing $47,421 after sending money to what appeared to be an online investment opportunity. Prosecutors traced the funds to a cryptocurrency wallet allegedly controlled by Tu Weizhi, a Chinese national. Tu now faces charges of money laundering, grand theft, and an organized scheme to defraud. He is believed to be in China, and authorities stated he will be arrested if he attempts to enter the United States.
Rather than limiting recovery to the victim's initial loss, prosecutors sought and obtained a warrant to seize the entire balance of the wallet. The seized assets included AVAX (Avalanche), DOGE (Dogecoin), PEPE (Pepe), and SOL (Solana) tokens.
The legal action relied on Florida's fugitive disentitlement statute, a doctrine that allows courts to move against assets tied to a criminal case when the defendant refuses to appear within the jurisdiction. In practice, this means Tu cannot use Florida’s courts to contest the forfeiture unless he returns to face the charges, which would result in his immediate arrest.
Attorney General Uthmeier stated, "While scammers are changing their methods, I am proud of our Statewide Prosecutors’ ability to adapt and deliver justice." Policy experts noted this case demonstrates how traditional forfeiture doctrines are now being applied more comfortably to cryptocurrencies due to the transparency and traceability of public blockchains. Angela Ang of TRM Labs commented that "with the right tools, expertise, and cooperation... the transparency and traceability of public blockchains can actually make such seizures more feasible in crypto, not less."
This is not an isolated case in Florida; public notices show similar forfeiture actions have been pursued in counties including Citrus, Broward, and Marion. The case occurs against a backdrop of significant crypto-related fraud. The Federal Trade Commission reported over $12 billion in overall fraud losses in 2024, with investment schemes accounting for a significant share. Separate FBI data indicates crypto investment fraud generated around $9.3 billion in reported losses.
