US Department of Justice Seizes Approximately $9 Million in USDT Tied to "Pig Butchering" Crypto Scam Network

Odaily Planet Daily News The U.S. Department of Justice has seized approximately $9 million in funds linked to a scam network, with the assets involved being the stablecoin Tether (USDT). Law enforcement officials stated that the case is related to long-term emotional and investment scams commonly known as "pig-butchering" (sal-tan sal-butchering). The criminal organization gains victims' trust by building fake romantic or social relationships, then lures them into investing funds on counterfeit crypto investment platforms before disappearing with the money.

Investigations show that the network has affected over 70 victims within the United States, illicitly transferring millions of dollars cumulatively. The U.S. Department of Justice stated that this asset freeze and enforcement action aims to cut off the flow of scam funds and strengthen the tracking and crackdown capabilities against cross-border crypto fraud. (Bloomberg)