Florence Man Loses Life Savings in $222K Crypto Scam

A retired man from Florence, Alabama, lost his life savings to a cryptocurrency scam known as 'pig butchering.'

The victim met someone using the name 'Bella,' who claimed to be a 23-year-old woman and offered to help him invest in cryptocurrency.

'Bella' convinced the man to move money from his Alabama bank account into a Coinbase account, and then into fraudulent crypto wallets.

The scammers laundered more than $222,000 in USDT through multiple wallets and exchanges before it was seized under a federal warrant.