Summary
- The United States Department of Justice reported the seizure of $225.3 million in cryptocurrency connected to a virtual asset investment scam called 'pig butchering.'
- This case was described as a large-scale scam in which over 400 victims suffered significant financial losses after being deceived by a fake virtual asset investment platform.
- Tether highlighted that this seizure is linked to the 'pig butchering' scam, which is a new method used to siphon off increasing investment funds.
The United States Department of Justice (DOJ) has seized $225.3 million (USD) worth of cryptocurrency linked to an investment scam known as 'pig butchering.'
According to Cointelegraph on the 19th (local time), the DOJ stated, "We have seized $225.3 million in cryptocurrency tied to an investment scam," and "a civil forfeiture complaint has been filed regarding these assets." This large-scale scam involved over 400 victims, who were deceived by a fake virtual asset investment platform and suffered millions of dollars in losses.
Tether, the stablecoin issuer, explained, "This seizure is related to the 'pig butchering' scam," and clarified, "'Pig butchering' is a novel scam technique in which criminals lure victims to invest increasing amounts of money before eventually stealing their funds."
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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