Agency Of Income
  • World News
  • Stocks
  • Business
  • Politics

Agency Of Income

  • World News
  • Stocks
  • Business
  • Politics
Business

DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams

by admin June 19, 2025
June 19, 2025
DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams

The Justice Department announced Wednesday the largest-ever U.S. seizure of cryptocurrency linked to so-called “pig butchering” scams that have cost victims billions globally.

Federal prosecutors filed a civil forfeiture action targeting more than $225 million in cryptocurrency traced to a sprawling web of fraudulent investment platforms. Victims were tricked into believing they were investing in legitimate crypto ventures, only to be scammed by criminal networks often operating overseas.

“This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service history,” said Shawn Bradstreet, special agent in charge of the U.S. Secret Service’s San Francisco Field Office, in a statement.

Authorities said the network was connected to at least 400 suspected victims worldwide, including dozens in the U.S. Crypto fraud was responsible for more than $5.8 billion in reported losses last year, according to FBI data.

The seized funds are now subject to forfeiture proceedings aimed at eventually returning money to victims.

The U.S. Secret Service and FBI used blockchain analysis and other tools to trace the cryptocurrency back to stolen assets. The DOJ credited Tether, the world’s largest stablecoin issuer, for assisting in the operation.

According to the complaint, the funds were linked to the theft and laundering of money from victims of cryptocurrency investment fraud schemes, commonly known as confidence scams that often involve romance.

The network relied on hundreds of thousands of transactions to obscure the origin of the funds, using sophisticated blockchain maneuvers to conceal the flow of stolen assets.

This post appeared first on NBC NEWS

previous post
Nike pushes back Skims launch with Kim Kardashian due to production delays
next post
The Fed Is Getting It Wrong AGAIN As They Hold Rates Steady

Related Posts

Nationwide coordinated retail crime crackdown results in hundreds...

June 4, 2025

Home Depot is buying GMS for about $4.3...

July 1, 2025

Kraft Heinz to remove artificial dyes from U.S....

June 17, 2025

Tesla stock sinks as Musk and Trump ridicule...

June 8, 2025

Lululemon sues Costco over selling alleged dupes

July 1, 2025

Tesla agrees to first deal to build China’s...

June 21, 2025

Boeing to resume airplane deliveries to China next...

June 2, 2025

Streaming overtakes cable and broadcast as the most-watched...

June 18, 2025

Microsoft’s Satya Nadella says job cuts have been...

July 25, 2025

Bumble shares jump 26% as dating company plans...

June 26, 2025

    Get free access to all of the retirement secrets and income strategies from our experts!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Trump endorses ‘MAGA warrior’ for RNC chairman after Whatley launches Senate campaign

    • WATCH: Trump says he is hopeful Hillary Clinton will be investigated for election fraud

    • Trump moves nuclear submarines weeks after praising sub’s power in Iran strikes

    • Recess on ice as Republicans hunker down for high-stakes nominee blitz

    • Iran says it has ‘plenty of scientists’ left to restart uranium enrichment, despite US, Israeli strikes

    • Apple crushes Wall Street expectations as iPhone sales soar

    Categories

    • Business (95)
    • Politics (20)
    • Stocks (112)
    • World News (293)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: AgencyOfIncome.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 agencyofincome.com | All Rights Reserved