U.S. federal agents have seized over $61 million USD in USDT after tracing funds linked to “pig slaughter” scams — a scheme that lures victims through romantic relationships, promising high profits from crypto trading on fake platforms.
According to court documents, the perpetrators impersonated lovers, boasted about “special investment strategies,” and displayed fake profits to encourage victims to deposit more money. When victims requested to withdraw funds, they were asked to pay additional “taxes” or “fees.” The money was then transferred through multiple wallets to hide its origin before authorities traced and confiscated it.
Tether, the stablecoin issuer, has cooperated with the DoJ and international agencies in several asset seizure cases, including USDT related to money laundering, terrorist financing, and investment scams.
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