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DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams
- The Justice Department announced the largest-ever U.S. seizure of cryptocurrency linked to 'pig butchering' scams, amounting to over $225 million.
- Federal prosecutors filed a civil forfeiture action targeting more than $225 million in cryptocurrency connected to fraudulent investment platforms.
- Authorities stated that the scam network involved at least 400 suspected victims globally, including many in the U.S.
- The DOJ recognized Tether, the largest stablecoin issuer, for its assistance during this operation.
97 Articles
97 Articles
SETH ORANBURG: CLARITY Now: Congress Must Bring Truth to Crypto Markets
Just last week, federal authorities announced the takedown of a $37 million international crypto scam that defrauded Americans nationwide. Five men pleaded guilty to running a sophisticated “pig butchering” scheme that lured victims through social media and dating apps, promised safe returns on digital asset investments, then funneled their life savings overseas. This is not an isolated incident: […]
DOJ files to seize $225 million in crypto from scammers
The Department of Justice reported yesterday that it filed a civil complaint to seize roughly $225.3 million in cryptocurrency linked to crypto investment scams. In a press release, the DOJ said it traced and targeted accounts that were “part of a sophisticated blockchain-based money laundering network” dispersing funds taken from more than 400 suspected victims of fraud. The 75-page complaint filed in the US District Court for the District of C…
Tokyo police arrest 6 people on suspicion of laundering fraud proceeds
Tokyo police have arrested six people on suspicion of laundering money swindled in social media investment scams. Investigators believe the suspects had received a total of over 5 billion yen, or 34 million dollars, from a scam group for money laundering.
DOJ to seize $225.3 million for victims of crypto scammers
The Department of Justice filed a civil forfeiture complaint against more than $225.3 million in the U.S. District Court for the District of Columbia for cryptocurrency scammers involved in money laundering.
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