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4h ago

Justice Department Seizes $225.3 Million Tied to Pig Butchering Crypto Scams

It initiates forfeiture proceedings designed to return stolen digital assets to hundreds of global victims.

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Cryptocurrency scams have become increasingly common in the U.S. over the past five years.
Jeanine Pirro, the interim US attorney for the District of Columbia, speaks during a Department of Justice press conference on Wednesday, June 18.
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Overview

  • The DOJ filed a civil forfeiture complaint in Washington, D.C., targeting $225.3 million in USDT linked to crypto confidence scams known as pig butchering.
  • FBI and Secret Service investigators used blockchain analytics to trace hundreds of thousands of transactions that laundered scam proceeds across numerous addresses.
  • Authorities identified over 400 suspected victims worldwide, including dozens in the U.S., who lost millions to fraudulent investment platforms and romance cons.
  • Investigators traced the funds through the OKX exchange and a Philippine scam compound, with Tether providing critical assistance in asset identification.
  • The operation marks the largest cryptocurrency seizure in U.S. Secret Service history and underscores federal resolve to combat digital asset fraud.