North Carolina Prosecutors Seize $61 Million USDT in "Pig Butchering" Scam

Odaily News North Carolina prosecutors in the United States have announced the seizure of over $61 million worth of USDT, with the funds linked to a large-scale crypto investment scam network known as "pig butchering."

The statement indicated that Homeland Security Investigations (HSI) tracked the flow of victim funds, identified multiple cryptocurrency wallet addresses suspected of being used for money laundering, and executed seizures and forfeitures on accounts still holding substantial balances. Court documents reveal that the scammers built fake romantic relationships to gain trust, then lured victims into participating in fraudulent high-yield crypto investment platforms, imposing additional "taxes" or restrictions when victims attempted to withdraw funds.

The prosecutors stated that this case is one of several recent crypto asset forfeiture actions. In January of this year, the U.S. Department of Justice also announced the forfeiture of approximately $400 million in assets related to the darknet mixing platform Helix. (The Block)