BlockBeats reported that on November 20, the FBI has been investigating a cryptocurrency pig-butchering scheme involving $5 million since August, which targeted 71 victims through fraudulent investment plans.
Court documents show that scammers used fake social media profiles to lure individuals into a fraudulent trading platform called Bitkanant. In August, federal prosecutors in North Carolina executed a search warrant and seized an unmanaged USDT wallet worth over $4.99 million, leading to the investigation. These funds are currently held by the U.S. Marshals Service.