US Authorities Seize $112m From Pig Butchering Scammers

Six bitcoin wallets alleged to have been used to launder the proceeds of investment fraud scams have been seized, according to the US Department of Justice (DoJ).

The estimated $112 million in the wallets was a drop in the bucket compared to the more than $3.3 billion that will be lost to investment fraud in 2022. According to the FBI, the majority of this amount ($2.6 billion) was attributable to cryptocurrency fraud, with the value of linked frauds increasing by 183% from 2021.

The seizures were approved by judges in the Districts of Arizona, California’s Central District, and Idaho. The money in the six cryptocurrency wallets is read more US Authorities Seize $112m From Pig Butchering Scammers.

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