DOJ Seizes $225M In Crypto From Global Scam Network

Benzinga

The Justice Department announced the largest U.S. cryptocurrency seizure, targeting over $225 million tied to global “pig butchering” investment scams, according to CNBC. Federal prosecutors filed a civil forfeiture to seize over $225 million in cryptocurrency linked to fraudulent investment platforms. Victims were misled into thinking they were investing in legitimate crypto projects but were defrauded by criminal networks based overseas. The seizure is the largest in U.S. Secret Service history, according to special agent Shawn Bradstreet. Authorities linked the network to at least 400 victims globally, resulting in over $5.8 billion in reported losses last year, according to the FBI.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02The Justice Department announced the largest U.S. cryptocurrency seizure targeting over

00:06$225 million tied to the global pig butchering investment scams, according to CNBC. Federal

00:11prosecutors filed a civil torture action to seize over $225 million in cryptocurrency linked to

00:17fraudulent investment platforms. Piggins were misleading to thinking they were investing in

00:20legitimate crypto projects that were defrauded by criminal networks based overseas. Seizure is

00:25the largest in U.S. Secret Service history, according to Special Agent Sean Bradstreet.

00:29Authorities linked the network to at least 400 victims globally, resulting in over $5.8

00:33billion in reported losses last year, according to the FBI.

00:37For all things money, visit Benzinga.com.

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