Feds Seek Forfeiture of $200K in USDT Tied to Tinder ‘Pig Butchering’ Scam
🔥 Key Takeaways
- Federal authorities are seeking the forfeiture of $200,000 in USDT tied to a suspected fake crypto trading platform.
- The victim, a Massachusetts resident, wired over $500,000 to the scammers.
- The scam is believed to be part of a larger “pig butchering” scheme targeting Tinder users.
Federal Authorities Crack Down on Crypto Scam
US law enforcement has seized $200,000 in Tether (USDT) connected to a suspected fake cryptocurrency trading platform. The victim, a Massachusetts resident, reportedly wired more than $500,000 to the scammers, who are believed to be part of a larger “pig butchering” scheme targeting users of the popular dating app Tinder.
“Pig Butchering” Scam Targets Tinder Users
The “pig butchering” scam, also known as “sha zhu pan” in Chinese, typically involves scammers posing as attractive individuals on dating apps to build trust with their victims. Once a connection is established, the scammers convince their victims to invest in fake cryptocurrency trading platforms or other investment schemes, promising unusually high returns.
Law Enforcement Seeks Forfeiture of Seized Assets
Federal authorities are now seeking the forfeiture of the seized $200,000 in USDT, which is believed to be tied to the suspected fake crypto trading platform. The move marks a significant step in the ongoing efforts to combat cryptocurrency-related scams and protect investors from financial losses.
Crypto Investors Urged to Exercise Caution
This case serves as a stark reminder of the risks associated with investing in cryptocurrency and the importance of exercising caution when dealing with unknown individuals or platforms. Investors are advised to thoroughly research any investment opportunity and verify the legitimacy of the platform or individual before transferring funds.
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