The U.S. Attorney’s Office has filed a lawsuit seeking to recover cryptocurrency traceable to a “pig slaughter” scheme that targeted a Massachusetts resident and 36 others.
According to one agency, the government is seeking to confiscate approximately $2.3 million in various cryptocurrencies, including USD Coin, Tether, Ether, and Solana. name On Wednesday. Authorities began investigating the scheme in the spring of 2023 and revealed that cryptocurrency was seized from funds associated with 37 victims, including Massachusetts residents. The resident was specifically t.According to the statement, they transferred $400,000 to a cryptocurrency wallet “hosted by a legitimate cryptocurrency exchange.”
“Some of the funds were traced to two Binance accounts and the cryptocurrency was seized in January 2024,” the Massachusetts Attorney General’s Office said. “The investigation revealed that the accounts from which cryptocurrency was seized were associated with funds belonging to 36 fraud victims located across the United States.”
past warning
Pig slaughter is an art Scammers build trust online and then lure victims into investing in cryptocurrency schemes before they realize they have been scammed. U.S. regulators have warned investors about the technology and have prosecuted some malicious actors.
For example, it is published by the Commodity Futures Trading Commission. warning and charged Digital asset platform Debiex was accused of fraud last month for defrauding investors of $2.3 million through pig slaughter.
Financial crime investigation network warned Recently, investors issued a warning about pig slaughter late last year.
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About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.