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THE Ministry of Justice announced on Wednesday the greatest American seizure of cryptocurrency Linked to so-called “pig butcher“Scams that cost billions of victims worldwide.
Federal prosecutors have filed a civil confiscation action targeting more than $ 225 million in cryptocurrency traced to a sprawl network of fraudulent investment platforms. The victims were led to believe that they were investing in legitimate crypto companies, to be scammed by criminal networks that often operate abroad.
“This crisis of $ 225.3 million in funds related to cryptocurrency investment scams The biggest cryptocurrency crisis in the history of American secret services, said Shawn Bradstreet, special agent in charge of the San Francisco field office for American secret services, in a statement.
The authorities said the network was connected to at least 400 alleged victims worldwide, including dozens of American cryptography fraud, was responsible for more than $ 5.8 billion in losses reported last year, according to FBI data.
The funds seized are now subject to confiscation procedures aimed at ultimately returning money to the victims.
The American secret services and the FBI used blockchain analysis and other tools to trace cryptocurrency with stolen assets. The DoJ has credited Tether, the largest stablecoin transmitter in the world, for helping the operation.
According to the complaint, the funds were linked to the flight and money laundering of victims of the investment systems for the investment of cryptocurrencies, commonly known as confidence scams which often involve the novel.
The network relied on hundreds of thousands of transactions to obscure the origin of the funds, using sophisticated maneuvers of the blockchain to hide the stolen asset flow.
