Prosecutors want to seize 2.5 million dollars in cryptocurrency from the “pig butchering” fraud – Mysterious investigation and asset seizure
US Prosecutors Seek to Seize $2.5 Million in Cryptocurrency from “Pig Butchering” Scam
US prosecutors have initiated proceedings to seize $2.5 million in cryptocurrency stemming from an international fraud scheme known as “pig butchering.” The District of Columbia Attorney’s Office has taken steps to implement civil forfeiture proceedings to recover 2,546,415.01 USDT transferred by foreign perpetrators of a cryptocurrency fraud scheme, as reported by the Federal Bureau of Investigation (FBI).
Alleged Fraudster Reportedly in Thailand, FBI Supports Confiscation Process
According to information, the alleged fraudster, currently residing in Thailand, holds two accounts containing the aforementioned USDT sum. Both the FBI and the Royal Thai Police are backing the confiscation process to retrieve the funds.
“Pig Butchering” Scams – Romance-Infused Fraud
Scams related to “pig butchering” often fit into the pattern of so-called romance scams. In such instances, perpetrators impersonate potential life partners, build victims’ trust, and persuade them to invest large sums of money in seemingly profitable schemes.
Prosecutors’ Decisive Actions to Protect Victims
Prosecutor Matthew M. Graves emphasized the office’s determination and commitment to tracking and dismantling criminal organizations to recover funds for victims. Meanwhile, FBI Special Agent Stacey Moy denounced the increasing complexity of such scams, highlighting the FBI’s dedication to combating criminal networks of this nature.
Fighting Crime – Confiscation as a Tool for Punishment and Prevention
Deputy Prosecutor Rick Blaylock Jr.’s confiscation efforts aim to punish wrongdoers and deter potential criminals by stripping them of illegally obtained assets and providing compensation to victims in accordance with federal law.
The entirety of this operation confirms the resolute approach of law enforcement agencies in combating fraud and safeguarding the interests of the aggrieved, as well as signaling their commitment to combating increasingly sophisticated forms of crime that leverage modern technologies, such as cryptocurrencies, in their operations.
