US Seizes $2.12M Crypto Wallet Linked to Investment Scam

A U.S. government civil in rem forfeiture lawsuit has resulted in the seizure of an Ethereum wallet holding approximately $2.12 million in USDT, which is linked to a massive investment scam.

The scam, which involved 'pig-butchering' tactics, targeted victims through dating apps, WhatsApp, social media, and phony job offers.

Victims were then guided to fake cryptocurrency investment platforms that promised guaranteed returns, with fictitious profits displayed to entice larger deposits.

The scammers also tricked victims into paying extra tax or verification fees when attempting to withdraw their money, only for the withdrawals never to take place due to the fraudulent nature of the platforms and the stolen assets being transferred through intermediary crypto wallets.