Crypto News – A lawsuit seeking the return of cryptocurrency linked to a “pig butchering” fraud that targeted 36 other people as well as a citizen of Massachusetts has been filed by the U.S. Attorney’s Office.
In Pig Butchering Scam, US Prosecutors Sue for $2.3 Million Lost
According to a statement released on Wednesday, the government wants to forfeit almost $2.3 million in a range of cryptocurrencies, including USD coin, Tether, Ether, and Solana. According to the authorities, they began looking into the plan in the spring of 2023 and found that cryptocurrency had been taken from accounts belonging to 37 victims, including a resident of Massachusetts. According to the statement, the particular resident was duped into sending $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 investigation revealed that the accounts from which the cryptocurrency was seized had been associated with funds from 36 other victims of fraud located across the United States.
the U.S. attorney’s office in Massachusetts
How is Pig Butchering a Type of Fraud?
A seemingly incorrect-number text message is frequently the first step in the scam known as “pig butchering,” which takes its name from the habit of farmers fattening hogs before slaughter. Respondents are seduced into making cryptocurrency investments. However, the scammers vanish as soon as victims send enough money, and the investments are fraudulent.
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