- The US Department of Justice (DOJ) has allegedly seized $9 cardinal successful the stablecoin Tether (USDT).
- The funds were linked to a crypto romance and assurance scam called “pig butchering.”
- On Monday Tether announced it had frozen $255 cardinal linked to a quality trafficking scheme.
The US Department of Justice (DOJ) has announced the seizure of $9 cardinal successful the stablecoin Tether (USDT), the authorities bureau said successful a press release connected Tuesday.
Another Tether news related to a scam follows yesterday’s announcement that the USDT issuer had frozen millions of its ain crypto token held successful wallets associated with quality traffickers.
DOJ seized $9 cardinal successful Tether’s USDT
According to the DOJ, the funds were seized from wallets linked to an organisation that alleged to person exploited much than 70 victims via romance and crypto assurance scams dubbed “pig butchering.”
“These scammers prey connected mean investors by creating websites that archer victims their investments are moving to marque them money. The information is that these planetary transgression actors are simply stealing cryptocurrency and leaving victims with nothing,” Nicole M. Argentieri, the Ag. Attorney General of the Justice Department’s Criminal Division, said.
The crypto seizure came astir aft extended probe and collaboration betwixt the DOJ and US Secret Service agents and analysts, the DOJ noted. As reported, the perpetrators allegedly laundered this wealth crossed aggregate exchanges and addresses, employing a method known arsenic “chain hopping.”
Investigations into the scam were conducted by the US Secret Service, San Francisco Field Office.
Today’s announcement by the DOJ comes a time aft Tether revealed it had frozen implicit $255 cardinal successful USDT. The funds were linked to a quality trafficking strategy successful Southeast Asia.
Per the crypto company, the USDT frost was a collaborative effort betwixt Tether and crypto speech OKX.
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