U.S. Department of Justice Seizes Approximately $9 Million in USDT in Connection with a "Pig Butchering" Crypto Scam Network
Svmuu News: The U.S. Department of Justice has seized approximately $9 million in funds linked to a fraud ring; the assets in question are the stablecoin Tether (USDT).Law enforcement officials noted that the case is linked to long-running romance and investment scams commonly known as “pig-butchering” schemes. The criminal organization gradually gained victims’ trust by establishing fake romantic or social relationships, then lured them into investing funds on fraudulent cryptocurrency investment platforms before absconding with the money. Investigations reveal that the network has affected more than 70 victims within the United States, with a cumulative total of millions of dollars illegally transferred. The U.S. Department of Justice stated that this asset freeze and crackdown are aimed at cutting off the flow of fraud proceeds and strengthening the ability to track and combat cross-border cryptocurrency fraud. (Bloomberg)
No AI analysis yet. Tap the "AI Analysis" button above to generate one now.
Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
24H Trending
-
1
What is FLOW? An Analysis of the Flow Blockchain Ecosystem and Its Current Status
-
2
Google and Microsoft's Q3 capital expenditure falls short of estimates, raising concerns about AI build-out costs and delays
-
3
Iranian President Pezeshkian stated that Iran is ready to expand cooperation with Turkey to serve common interests and enhance regional security.
-
4
Report: Hedge Funds Exit Bitcoin ETF Arbitrage Trades, Sovereign Wealth Funds and Retail Investors Step In
-
5
LS Cable subsidiary Gaon Cable secures W120b ($90m) US AI data center cable deal
-
6
Event prediction platform Kalshi completes $1 billion funding round, reaching a valuation of $40 billion, with non-sports revenue run rate exceeding $1 billion.
-
7
New ECB staff estimates show bond yield rise cutting 2027-28 growth by a cumulative 100 BPS and inflation by 90 BPS vs Sept baseline.
-
8
Global Business Forum Urges Business Leaders to Embrace AI and Rethink Strategies
-
9
onXRP Team to Launch New Trading Method on XRP Ledger Next Week
-
10
Unlimit founder backs Phase blockchain with $45M as mainnet launches
Markets Today
Recommended Reading



