
Tether, the issuer of the USDT stablecoin, played a key role in assisting the U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) in seizing approximately $1.4 million worth of USDT from an unhosted virtual currency wallet linked to a tech support scam network. This action is part of a broader effort to combat cybercrime and digital asset scams, which have seen a significant surge in recent years. In 2023, digital asset scams resulted in losses of $3.94 billion, a sharp increase from $2.57 billion in 2022. The scams often target beginners on social media platforms like Facebook and @X with false promises of high returns on digital asset investments. Additionally, the U.S. Attorney's Office in Massachusetts has taken legal action through a civil forfeiture action to return $2.3 million seized from pig butchering scammers, further highlighting the ongoing battle against fraud in the digital asset space.
The U.S. Attorney's Office in Massachusetts filed a civil forfeiture action to return $2.3 million seized from pig butchering scammers. @cheyenneligon reports https://t.co/UuB2dTFVbn
FBI: Digital asset scams surge, causing šµ $3.94B in losses in 2023, up from $2.57B in 2022. Scammers target beginners on social media like Facebook and @X with fake promises of high returns on digital asset investments. https://t.co/9IaAZgp3QH
š°.@Tether_to assisted the @TheJusticeDept and the @FBI with the seizure of $1.4 million worth of USDT from an unhosted virtual currency wallet. āļø by @tikta_ Read more š https://t.co/IGOsa3EEqA #CyberCrime #Tether #USDT https://t.co/Fpf84B5twj




