Fraud victims will receive justice as US seeks recovery of $2.3 million
Key Takeaways
- The Massachusetts U.S. Attorney’s Office is trying to recover $2.3 million worth of cryptocurrency from a ‘pig slaughter’ online scam.
- Authorities began civil forfeiture proceedings.
- As a result of the investigation, it was revealed that there were 37 victims of fraud.
U.S. Attorney’s Office in Massachusetts pursue ~ $2.3 million worth of cryptocurrency recovered Associated with online fraud; was It goes back to two Binance account.
The authorities Civil forfeiture lawsuit, The legal process under which law enforcement authorities seize property that is believed to be associated with criminal activity without necessarily charging the property’s owner with a crime.
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Assets were lost due to the “pig slaughter” scheme. Scammers develop fake online bonds Achieve your goals over a period of weeks or months ultimately fraud Requires significant cryptocurrency investment.
Authorities began investigating the plan in early 2023. 37 victims linked to funds. These include: A Massachusetts resident is accused of sending $400,000 to a scammer. Those funds were used to trace the losses of other victims.
Cryptocurrencies involved in scams include: 1.5 million dollars USDT, $3,000 brush, $300,000 USDC, $14,000 ADA and $102,000 TRX.
This case highlights the importance of vigilance in the digital asset space and the joint efforts of law enforcement and regulators to protect investors from sophisticated online fraud.
In other news, FixFloat confirmed a hack in which at least $26 million was stolen in Bitcoin and Ethereum.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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