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The Justice Department said the funds were stolen from over 70 victims who fell prey to a relationship scam, adding that USDT issuer Tether aided the seizure.
Tether (<a href="https://crypto.news/price/tether/" rel="noopener noreferrer nofollow">USDT</a>) tokens worth $9 million were seized by the U.S. Department of Justice (DoJ) from a criminal organization utilizing romance schemes to swindle unsuspecting American investors out of their cryptocurrency holdings.&nbsp;
The DoJ said the assets rightfully belonged to over 70 victims of a so-called “pig butchering” scam, a fraudulent scheme that involves forming a romantic relationship with a target and eventually convincing them to invest money into unsound platforms.&nbsp;
The platforms, usually crypto exchanges or protocols, are operated by scammers and users find themselves unable to withdraw their funds after a while.
Per a Nov. 21 <a href="https://www.justice.gov/opa/pr/cyber-scam-organization-disrupted-through-seizure-nearly-9m-crypto" target="_blank" rel="noopener noreferrer nofollow">press release</a>, the DoJ plans to dedicate resources to tackling illicit activity and bad actors using crypto for public harm.
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 This seizure should also serve as a reminder to cybercriminals that, although the current landscape of the cryptocurrency ecosystem may seem like an ideal way to launder ill-gotten gains, law enforcement will continue to develop the expertise needed to follow the money and seize it back for victims. <cite>Nicole M. Argentieri, acting Assistant Attorney General, DoJ criminal division</cite>
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The DoJ acknowledged the help of USDT’s issuer Tether in its investigation, noting that the digital payment giant facilitated the transfer of the stolen assets.&nbsp;
Tether had earlier disclosed that it froze $225 million worth of its stablecoin in a joint investigation with the DoJ, and crypto exchange OKX, crypto.news <a href="https://crypto.news/tether-freezes-225m-usdt-tied-to-doj-trafficking-syndicate-investigation/" rel="noopener noreferrer nofollow">reported</a>. The funds were likely linked to the same criminal syndicate.
In other Tether news, more than $1 billion <a href="https://crypto.news/tethers-funds-worth-over-1b-reportedly-appear-at-the-heart-of-legal-battle/" rel="noopener noreferrer nofollow">deposited</a> by the company into a subsidiary of Britannia Financial Group is reportedly at the heart of a London court battle. Tether also plans to become a <a href="https://crypto.news/tether-to-become-a-bitcoin-miner-with-a-500m-investment-in-2024/" rel="noopener noreferrer nofollow">Bitcoin miner</a> with a $500 million investment earmarked for 2024.
Read more: <a href="https://crypto.news/europes-bitcoin-miner-secures-e575m-debt-financing-from-tether/" rel="noopener noreferrer nofollow"> Europe’s Bitcoin miner secures €575m debt financing from Tether </a>

DoJ captures $9m in Tether’s USDT from “pig butchering” operation

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