Billion

Coin

<ul class="wp-block-list news-points"> 
 <li>The DoJ commended Tether’s support in recovering funds linked to fraud.</li> 
 <li>Scammers disguised as romance partners to steal from unsuspecting victims.</li> 
 <li>Tether supported the FBI by freezing funds linked to the fraudulent transactions.</li> 
</ul> 
The U.S. Attorney’s Office for the Eastern District of North Carolina <a href="https://www.justice.gov/usao-ednc/pr/investment-fraud-disrupted-seizure-5-million-cryptocurrency" target="_blank" rel="nofollow">publicly commended Tether</a>, the leading stablecoin issuer, for assisting in the recovery of funds connected to a major fraud scheme. Tether helped the Department of Justice transfer $5 billion in seized assets stolen through cryptocurrency investment scams known as “pig butchering.” 
Court filings reveal that criminals lured victims of the scam by disguising themselves as romance partners to win their trust. After that, the scammers introduced the unsuspecting victims to fake crypto trading schemes, promising massive returns via what resembles a legitimate crypto trading platform. 
The fraudulent trading firms showed fake investment portfolios with impressive gains to entice victims into investing more. When victims tried to withdraw their funds, scammers demanded additional payments for “taxes” or “penalties,” further exploiting them. 
The Attorne…
The post <a href="https://coinedition.com/tether-and-fbi-team-up-to-recover-5-billion-in-crypto/">Tether and FBI Team Up to Recover $5 Billion in Crypto</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Tether and FBI Team Up to Recover $5 Billion in Crypto

Coin Edition

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