U.S. Department of Justice Seizes $61 Million in USDT to Combat "Pig Butchering" Crypto Scams

On February 24, the U.S. Department of Justice announced that approximately $61 million in USDT has been successfully seized. These funds are all related to "pig butchering" crypto investment scams.

It is reported that these stolen funds come from multiple crypto wallet addresses and are used by criminal groups to launder illegal proceeds obtained from victims.

The authorities explained that this type of "pig butchering" scam is simple and covert: scammers first approach victims through social and dating apps, pretending to build romantic relationships to gain trust, then induce victims to invest in fake crypto platforms. They lure victims with fabricated high returns to invest more money. When victims request withdrawals, scammers continue to ask for money under the guise of "fees," and after collecting the funds, they quickly transfer the money elsewhere.

Officially, these scams are often operated by transnational criminal groups, with some perpetrators lured to Southeast Asian scam hubs by "high-paying jobs" and forced to participate in the scams.

Additionally, Tether has revealed that over $4.2 billion in related assets have been frozen to date. The U.S. Department of Justice also stated that it will continue to track these activities to cut off the international scam funding chain.