The authorities seized the crypto assets from six accounts based in Los Angeles, the District of Arizona, and the District of Idaho. The United States Department of Justice (DOJ) seized $112 million in cryptocurrencies previously drained through the so-called “pig butchering” scams. One particular account based in Los Angeles contained more than $66 million worth of digital assets. Prosecutors claimed that criminals used the addresses to launder proceeds of various crypto fraud, including “pig butchering” scams. “Pig butchering” refers to fattening a pig before slaughter. Criminals would contact victims via direct messages and offer them a great “investment” that could bring substantial profits. They might explain how they found the contact details and lure people into suspicious schemes (which, in many cases, are too good to be true). Such wrongdoers could even develop a romantic relationship with their victims only to win their trust. Unfortunately for those who fall into that trap, there is no real love behind those fake gestures but only an attempt to steal one’s funds. The American authorities confiscated the digital assets from six accounts based in Los Angeles, the District of Idaho, and the District of Arizona.
US DOJ Confiscates 112 Million Worth of Crypto Linked to ‘Pig Butchering’ Scams
