Due to ‘romance baiting’ frauds, the U.S. Department of Justice (DOJ) has confiscated more than $8.2 million worth of USDT (Tether) cryptocurrency.
This kind of financial fraud, which was once known as “pig butchering,” involves tricking victims into investing in phony websites or applications that promise enormous rewards.
The victims invest more and more because they believe they are gaining money, but they run into a number of issues that keep them from finishing the transaction when they try to make any sizable withdrawals.
In the end, they discover that they made an investment in a fraudulent platform, and all of their money ended up in the hands of the threat actors read more about U.S. seized $8.2 million in crypto linked to ‘Romance Baiting’ scams.
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