Summary of Bitcoin and Cryptocurrency News:
- U.S. attorneys are pursuing $2.5 million in cryptocurrency from an international scam.
- The scam, known as “pig butchering,” targeted American victims.
- The FBI seized 2,546,415.01 USDT from foreign perpetrators of the scam.
- The FBI and Thai Royal Police are supporting the forfeiture efforts.
- Romance scams, like pig butchering scams, deceive victims into investing in fake schemes.
- U.S. Attorney and FBI Special Agent condemn these scams and vow to hold criminals accountable.
Pig Butchering Scams and Crypto Fraud:
The “pig butchering” scam involves fraudsters befriending victims under false pretenses and convincing them to invest in fake cryptocurrency opportunities. Victims are persuaded to make large investments, only to have the scammers disappear with their funds.
Government Efforts to Combat Crypto Fraud:
U.S. Attorney Matthew M. Graves and FBI Special Agent Stacey Moy are working to dismantle criminal networks behind elaborate scams like pig butchering. The forfeiture action aims to punish criminals and compensate victims for their losses under federal law.
