$61 Million Seized in Tether USDT Stablecoin Linked to Pig Butchering Scam

The US Attorney's Office for the Eastern District of North Carolina has taken significant action against a major cryptocurrency fraud scheme. In a recent development, they have seized $61 million in Tether's USDT stablecoin linked to the 'pig butchering' scam.

The 'pig butchering' scam involves luring victims into fake trading platforms that promise unusually high returns on their investments. Once these individuals commit their funds to the platform, they are often swindled out of their money and see it laundered through multiple wallets.

This seizure is a significant step in combating cryptocurrency-related crimes, which have been increasingly prevalent in recent years. The US Attorney's Office has taken a proactive approach in addressing these issues, highlighting the importance of vigilance in the digital asset space.