DOJ Seizes $9M USDT Linked to Romance Scam Operation
The U.S. Department of Justice (DOJ) has seized approximately $9 million in USDT as part of an operation targeting a criminal group involved in romance scams.
This follows Tether's action to freeze $225 million worth of USDT held in external self-custodied wallets associated with the scam.
Romance scams entail fraudsters forming relationships with unsuspecting individuals online, often convincing them to invest in legitimate businesses before defrauding them.
Nicole M. Argentieri, Acting Assistant Attorney General, said: “This seizure should also serve as a reminder to cybercriminals that, although the current landscape of the cryptocurrency ecosystem may seem like an ideal way to launder ill-gotten gains, law enforcement will continue to develop the expertise needed to follow the money and seize it back for victims.”