USA Wants to Receive 2.5 Million Dollars of Coin Stolen by Fraudsters

The US Attorney's Office for the District of Columbia has filed a lawsuit to recover more than $2 million in cryptocurrency lost in "pig butchering" scams targeting citizens.

The prosecutor's office is trying to seize cryptocurrencies seized by the FBI. According to a statement from the Ministry of Justice, this move will secure 2,546,415.01 USDT from two accounts involved in investment fraud in Thailand.

“Our office will hunt down and hold accountable criminal organizations operating inside or outside the United States that defraud victims using fraudulent investment schemes such as pig butchering,” said U.S. Attorney Matthew Graves.

“This seizure case shows that fraudsters cannot hide their illegal activities using cryptocurrency and complex transactions: we will find them, seize their illegal proceeds, and return the money to the victims,” Graves said. he added.

What is pig butchering?

In pig butchering scams, also known as trust scams, perpetrators gain the trust of victims and persuade them to make fake cryptocurrency investments.

The United Nations announced in January that Tether-signed USDT was widely used in various money laundering and fraud methods, including pig butchering.

Tether had frozen $225 million worth of assets linked to a pig butchering case in November 2023.