|

North Carolina DOJ Seizes $61 Million in USDT Tied to Pig Butchering Scam

The U.S. Attorney’s Office for the Eastern District of North Carolina seized greater than $61 million in Tether (USDT) linked to cash laundering from crypto “pig butchering” funding scams.

Why it issues:

  • Victims of pig butchering scams lose funds to fraudulent platforms exhibiting faux returns, then face calls for for “taxes” or “charges” to withdraw. This is a cycle designed to repeatedly extract cash.
  • The $61 million seizure ranks among the many largest single USDT confiscations tied to romance-based crypto fraud in U.S. historical past.
  • The case indicators direct DOJ and Homeland Security Investigations (HSI) coordination with Tether to freeze and switch illicit stablecoin holdings.

The particulars:

  • The U.S. Attorney’s Office for the Eastern District of North Carolina introduced the seizure, with the DOJ and HSI main the operation.
  • Investigators traced the USDT to pockets addresses linked to cash laundering tied to crypto funding fraud.
  • Pig butchering scams contain criminals constructing faux romantic relationships on-line earlier than steering victims towards fraudulent buying and selling platforms.
  • Tether assisted the DOJ and HSI in facilitating the switch of the $61 million in seized belongings.

The huge image:

  • Pig butchering scams generated billions in international losses in current years, with U.S. authorities accelerating seizures as stablecoins develop into the popular settlement layer for organized fraud networks.
  • The case provides to the DOJ’s rising monitor document of recovering crypto belongings linked to transnational fraud.

The publish North Carolina DOJ Seizes $61 Million in USDT Tied to Pig Butchering Scam appeared first on BeInCrypto.

Similar Posts