US Authorities Crack Down on 'Pig Butchering' Crypto Scam

US authorities have made a significant move against cryptocurrency scammers, seizing over $61 million in Tether (USDT) tied to a large-scale investment scam.

The operation was led by Homeland Security Investigations (HSI) in Raleigh, North Carolina, in collaboration with the U.S. Attorney's Office for the Eastern District of North Carolina.

The seized assets are now subject to federal forfeiture proceedings, and authorities have stated that they will focus on stripping criminals of their profits and disrupting the financial infrastructure behind such schemes.