$2.1 Million USDT Seized in Pig-Butchering Crypto Scam Case

The US government has filed a civil forfeiture lawsuit to seize approximately $2.117 million in USDT held in an Ethereum wallet, alleging it represents proceeds from a sophisticated pig-butchering cryptocurrency scam.

Investigators used blockchain analysis to track the funds across 76 intermediate addresses, employing techniques such as wallet hopping and balance splitting.

The government seeks to seize the assets through civil in rem forfeiture, requiring cooperation from Tether, the stablecoin issuer.