U.S. Seeks Forfeiture of $3.4M in USDT from Alleged Crypto Scam
- Federal prosecutors in Massachusetts filed a civil forfeiture action to recover approximately $3.4 million in USDT.
- The funds are linked to an alleged investment scam involving fake Ethereum opportunities backed by “physical gold.”
- Victims were approached via misdirected texts and encrypted messaging apps like WhatsApp and Telegram.
- The scheme involved converting victims’ ETH into USDT, which was then moved into unhosted wallets.
- This case follows other significant actions, including a record $14 billion forfeiture tied to a Cambodian scam network.
The U.S. Department of Justice is targeting crypto fraud through civil forfeiture actions, with the latest effort focusing on recovering millions in stablecoins allegedly obtained through deceptive investment schemes.
By seizing $3.4 million in USDT linked to fraudulent activities, authorities aim to disrupt financial networks used for money laundering and protect future victims from similar scams involving digital assets like Ethereum and stablecoins. (Source)
