Feds Seize Millions in USDT Linked to Pig Butchering Scams

US federal authorities have made a significant move against cryptocurrency scams, seizing over $61 million in Tether (USDT) linked to 'pig butchering' schemes.

Pig butchering scams involve the manipulation of victims into transferring money under false pretenses. The scammers typically build trust with their victims and then convince them to invest in fake or non-existent cryptocurrency projects.

The seized funds are believed to be connected to these types of scams, and the investigation is ongoing. The move highlights the growing efforts by authorities to combat cryptocurrency-related crimes.