As a seasoned crypto investor who has unfortunately fallen victim to a pig butchering scam once, I can’t help but feel a mix of relief and frustration upon hearing about the U.S. Attorney’s Office for the District of Columbia’s efforts to seize $2.5 million in cryptocurrency from foreign perpetrators of this nefarious scheme.
As a researcher uncovering recent developments in cybercrime, I’ve come across an ongoing investigation led by U.S. attorneys. They are working diligently to confiscate approximately $2.5 million worth of cryptocurrency from a transnational scam known as “pig butchering.” This scheme specifically preys upon American citizens.
The District of Columbia’s U.S. Attorney’s Office has commenced a civil seizure process to claim the confiscated 2,546,415.01 USDT from foreign swindlers responsible for carrying out the cryptocurrency con called “pig butchering,” which was previously seized by the FBI.
According to reports, the suspected scammer behind the USDT funds in question is believed to be operating from Thailand. Two of his accounts are being targeted for seizure with the approval of both the FBI and the Thai Royal Police.
Pig-butchering scams
As a researcher studying online fraud, I’ve come across a type of scam known as “romance scams” or “pig butchering,” where deceitful individuals pose as potential romantic interests to lure unsuspecting victims into financial exploitation.
Scammers build trust with their targets and persuade them to invest substantial sums in supposedly profitable ventures. Once convinced, victims are enticed to put their money into what seems like a lucrative cryptocurrency deal.
Instead, the con artist makes no plan to repay the funds and departs with the money following the transfer by the victim. Such deceptions frequently employ persistent demands for additional investments prior to the swindlers’ exit.
Attorney thoughts
As a committed crypto investor, I can tell you that U.S. Attorney Matthew M. Graves is dedicated to ensuring justice is served against criminal organizations involved in illicit activities. He emphasized, “We will relentlessly pursue these criminals, confiscate their unlawful gains, and return the stolen funds back to their rightful owners.”
FBI Special Agent in Charge Stacey Moy expressed her disapproval towards the growing prevalence of intricate fraud schemes. She underscored the FBI’s persistent actions to dismantle these illicit criminal organizations.
“FBI Special Agent in Charge Moy expressed his disdain towards the increasing number of intricate pig-butchering scams, which are being used by deceitful individuals to swindle unsuspecting victims.”
The legal action initiated by U.S. Attorney Rick Blaylock, Jr., aims to penalize and discourage unlawful behavior by seizing and confiscating criminals’ ill-gotten possessions. Additionally, it intends to restore assets to victims in accordance with federal legislation.
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2024-07-17 17:02