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

Hermès to hike U.S. prices for iconic bags...

April 18, 2025

Cracker Barrel will go back to old logo...

August 28, 2025

McKinsey & Co. to pay $650M to settle...

December 18, 2024

Pepsi and Delta say consumers are hunting for...

July 12, 2024

Big Lots initiates going-out-of-business sales at remaining locations

December 21, 2024

Walgreens plans store closures as CEO says consumers...

June 29, 2024

Trump administration ramps up pressure on Labor Department...

September 12, 2025

Disney to pay $10 million to settle FTC...

September 4, 2025

Trump says national security concerns in Nippon-U.S. Steel...

June 16, 2025

Hims & Hers Health says it will offer...

May 22, 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

    • White House memo says Democrats’ plan could spend $200B on healthcare for illegal immigrants

      October 2, 2025
    • TREY YINGST: Hamas must accept Trump peace plan to end war once and for all

      October 2, 2025
    • Vance blames Schumer’s fear of AOC primary challenge as shutdown cause

      October 2, 2025
    • JD Vance responds to Hakeem Jeffries’ claim sombrero meme is ‘racist’

      October 2, 2025
    • Patel cuts ties Comey’s FBI made with ADL as organization faces backlash for TPUSA criticism

      October 2, 2025

    Categories

    • Business (1,115)
    • Investing (3,165)
    • Politics (3,859)
    • Stocks (1,155)
    • 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