Read

<div class="cryptonews"> 
 <p class="is-style-lead">US Drug Enforcement Administration (DEA) <a rel="noopener noreferrer nofollow" title="mistakenly" href="https://thebittimes.com/tag/mistakenly.html">mistakenly</a> transferred $55,000 to a crypto <a rel="noopener noreferrer nofollow" title="scammer" href="https://thebittimes.com/tag/scammer.html">scammer</a>, exposing vulnerabilities even amidst high-security operations.</p> 
 <p>The scam was uncovered when the US Marshals Service detected the incident. However, the funds were already removed.</p> 
 <p>According to Forbes, the agency seized over $500,000 in Tether stablecoin in May. The amount was derived from two Binance accounts that had aroused suspicions of being conduits for the illicit proceeds of the drugs trade. The details of this operation were unveiled through a search warrant that Forbes first reported on.</p> 
 <p>Following the seizure, the funds were transferred to accounts under the control of the DEA and stored within a hardware-based wallet called Trezor. Subsequently, these assets were moved into a highly secure facility, adding another layer of protection.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Israeli police links local businessman to $290 million crypto scam 
 </div> 
 <p>However, amidst these operations, a <a rel="noopener noreferrer nofollow" title="scammer" href="https://thebittimes.com/tag/scammer.html">scammer</a> watched the blockchain. They noticed when the DEA initiated a trial transaction by dispatching $45.36 worth of Tether to the US Marshals Service. This transaction was a routine part of the forfeiture processing, yet it caught the <a rel="noopener noreferrer nofollow" title="scammer" href="https://thebittimes.com/tag/scammer.html">scammer</a>’s interest.</p> 
 <p>Afterward, the <a rel="noopener noreferrer nofollow" title="scammer" href="https://thebittimes.com/tag/scammer.html">scammer</a> established a cryptocurrency address that mirrored the first five and last four characters of the Marshals’ account. As a result, the DEA did not check the address properly and believed it to be the Marshal’s service address, transferring the funds there.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Cybercriminals launch new crypto scam using Google Ads 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div>

US drug regulator mistakenly sent $55k to scammer

TheBitTimes

Other articles published on Aug 25, 2023

Cardano Scaling Tool Hydra Welcomes Significant Update

Bitcoin Price Prediction: Payment Proposals, Real Estate Ventures, and Arthur Hayes' Insights

Does high US consumer debt benefit Bitcoin price?

FTX crypto exchange reports data breach involving claims agent Kroll

Magnate Finance Exposed as Exit Scam Amidst Warning Signs

PEPE Coin Drops 20% Amid Suspicious Token Transfers – Raising ‘Rug Pull’ Worries

Join our free newsletter for daily crypto updates!