Regulators Crack Down on Crypto Scams Amid Social Media Platform's New Rules

The Connecticut U.S. Attorney's Office has successfully recovered over $600,000 in USDT stablecoin linked to a Ledger Hardware Wallet scam. The recovery follows an FBI investigation that tracked financial flows from fraud and money laundering.

Meanwhile, social media platform X is weighing new rules for first-time cryptocurrency posters after a recent 'Tortoise' scam, which saw fake influencers using AI-generated content to attract millions of views before pushing cryptocurrency scams.