Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams

by admin June 19, 2025
June 19, 2025
DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams

The Justice Department announced Wednesday the largest-ever U.S. seizure of cryptocurrency linked to so-called “pig butchering” scams that have cost victims billions globally.

Federal prosecutors filed a civil forfeiture action targeting more than $225 million in cryptocurrency traced to a sprawling web of fraudulent investment platforms. Victims were tricked into believing they were investing in legitimate crypto ventures, only to be scammed by criminal networks often operating overseas.

“This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service history,” said Shawn Bradstreet, special agent in charge of the U.S. Secret Service’s San Francisco Field Office, in a statement.

Authorities said the network was connected to at least 400 suspected victims worldwide, including dozens in the U.S. Crypto fraud was responsible for more than $5.8 billion in reported losses last year, according to FBI data.

The seized funds are now subject to forfeiture proceedings aimed at eventually returning money to victims.

The U.S. Secret Service and FBI used blockchain analysis and other tools to trace the cryptocurrency back to stolen assets. The DOJ credited Tether, the world’s largest stablecoin issuer, for assisting in the operation.

According to the complaint, the funds were linked to the theft and laundering of money from victims of cryptocurrency investment fraud schemes, commonly known as confidence scams that often involve romance.

The network relied on hundreds of thousands of transactions to obscure the origin of the funds, using sophisticated blockchain maneuvers to conceal the flow of stolen assets.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
3 S&P 500 Charts That Point to the Next Big Move
next post
Amazon expects to cut corporate jobs as it relies more on AI

Related Posts

Amazon workers must return to office full time,...

September 17, 2024

Starbucks shakes up its leadership again, adding two...

January 29, 2025

The White Stripes sue Trump for using ‘Seven...

September 11, 2024

How America’s chief consumer-protection agency came into the...

February 15, 2025

Rate cuts before the year’s end could make...

July 12, 2024

PepsiCo to buy tortilla chip maker Siete Foods...

October 3, 2024

Kroger chairman and CEO resigns following investigation into...

March 4, 2025

Nvidia overtakes Apple as world’s most valuable company

October 29, 2024

Companies are slashing prices to woo consumers. It’s...

July 28, 2024

DOJ sues software firm RealPage for allegedly helping...

August 24, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Tariff Shock Spurs “Buy-the-Dip” Setups in Tesla and ON Semiconductor

      July 9, 2025
    • New book reveals what top ex-Biden aide was thinking during disastrous debate

      July 9, 2025
    • TSA expected to end shoes-off policy at many airports across US

      July 9, 2025
    • Trump administration moves decisively to block China from ‘weaponizing’ American farmland

      July 9, 2025
    • Trump dishes on Milley clash over leaving military equipment in Afghanistan: ‘I knew he was an idiot’

      July 9, 2025

    Categories

    • Business (1,015)
    • Investing (2,560)
    • Politics (3,171)
    • Stocks (1,120)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved