A recent study has revealed that 'pig-butchering' crypto scams have resulted in over $75 billion in losses worldwide, marking an 85-fold increase since 2020. These scams involve fraudsters building fake romantic relationships online before convincing victims to invest in fraudulent cryptocurrency schemes. The University of Texas study, led by Professor John Griffin, tracked 4,000 crypto addresses and found that most of the proceeds were converted into the stablecoin Tether. The report also highlights that over 60% of illegal crypto activity is linked to sanctioned groups or terrorist organizations. Tether has been criticized for its alleged role in facilitating these scams, with accusations that it has enabled criminal organizations to launder billions of dollars. The findings come amid broader concerns over the use of cryptocurrencies in illegal activities, including money laundering, terrorism financing, and human trafficking.