Summary
- Tether said it supported the US Department of Justice in recovering 61 million USDT in criminal proceeds tied to a “pig butchering” romance scam.
- Tether said it cooperated in freezing and recovering a total of 61 million USDT, based on cryptocurrency addresses traced by DOJ investigators.
- Tether said the move shows its commitment to working with law enforcement agencies worldwide to prevent virtual asset (cryptocurrency)-related crimes and to lead the digital asset industry through compliance management.
Tether, the issuer of USDT, the world’s largest stablecoin, said it supported the US Department of Justice (DOJ) in recovering 61 million USDT in criminal proceeds linked to a large-scale “pig butchering” romance scam case.
In a statement on its official website on the 25th (local time), Tether said, “Based on victim reports, DOJ investigators traced the cryptocurrency addresses to which the illicit funds were transferred, and with Tether’s cooperation, a total of 61 million USDT was frozen and recovered.”
It added, “This action demonstrates Tether’s commitment to working with law enforcement agencies worldwide to prevent virtual asset (cryptocurrency)-related crimes and to lead the digital asset industry through strong compliance.”
“Pig butchering” scams are fraud schemes in which perpetrators build trust with victims over an extended period before presenting fake investment opportunities and stealing funds, and losses have been surging globally in recent years.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
