US EditionDOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams
- The Justice Department announced the largest-ever U.S. seizure of cryptocurrency linked to 'pig butchering' scams, amounting to over $225 million.
- Federal prosecutors filed a civil forfeiture action targeting more than $225 million in cryptocurrency connected to fraudulent investment platforms.
- Authorities stated that the scam network involved at least 400 suspected victims globally, including many in the U.S.
- The DOJ recognized Tether, the largest stablecoin issuer, for its assistance during this operation.
70 Articles
70 Articles
DOJ files to seize $225 million in crypto from scammers
The Department of Justice reported yesterday that it filed a civil complaint to seize roughly $225.3 million in cryptocurrency linked to crypto investment scams. In a press release, the DOJ said it traced and targeted accounts that were “part of a sophisticated blockchain-based money laundering network” dispersing funds taken from more than 400 suspected victims of fraud. The 75-page complaint filed in the US District Court for the District of C…
A Facebook 'friendship' just cost a Solon man $1 million—and it all looked legit at first
There are numerous red flags to look out for when it comes to scams, and Ive learned how frequently they can be overlooked, having spoken to my share of victims over the years.I learned that one of the most recent victims handed over what likely adds up to the largest cryptocurrency scam losses in Solon history.When the recent fraud case hit Lt. Victor Vajdich's desk, he did a double-take."The first time we hear about the possible amount that wa…
The U.S. Department of Justice (DOJ) announced on Wednesday that it successfully executed the largest seizure of cryptocurrencies related to so-called “pig-butchering” scams, this being a tactic in which the criminal deceives the victims by earning their confidence to invest large sums of money in alleged cryptocurrencies opportunities, and then disappears. The federal prosecutor’s office filed a civil confiscation suit with the District Court o…
Crypto Crime News: DOJ Ties Kansas Bank Collapse to $225 Million 'Pig Butchering' Seizure
Shan Hanes, the former CEO of Heartland Tri-State Bank, wired millions in embezzled funds to scammers who promised crypto riches and was arrested in 2024. Now, a DOJ complaint shows he was the single largest victim in a global "pig butchering" USDT laundering network.
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