This week, the U.S. Department of Justice (DoJ) stated that $61 million worth of Tether had been seized after it was reportedly linked to fraudulent cryptocurrency scams known as “pig butchering.”
According to the department, the seized money were linked to cryptocurrency addresses that were used to launder illegally obtained profits that were taken from victims of cryptocurrency investment scams.
According to HSI Charlotte Acting Special Agent in Charge Kyle D. Burns, professional money launderers and criminal actors utilize cyber-enabled fraud schemes to defraud their victims and hide their illicit riches.
In order to disrupt and dismantle the transnational criminal organizations that aim to swindle industrious Americans, HSI special agents painstakingly trace the illicit proceeds of crime worldwide read more about DoJ Seizes $61 Million in Tether Linked to Pig Butchering Crypto Scams.
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