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Home News DoJ Seizes $61 Million in Tether from Global Pig Butchering Crypto Scam Network

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DoJ Seizes $61 Million in Tether from Global Pig Butchering Crypto Scam Network

scsecMarch 3, 20261 Mins read4 Views

DoJ Seizes $61 Million in Tether Linked to Pig Butchering Crypto Scams

The U.S. Department of Justice (DoJ) has seized $61 million in Tether (USDT) connected to fraudulent cryptocurrency schemes known as pig butchering scams, which exploit victims through romance and social engineering tactics.

The funds were traced to cryptocurrency addresses used to launder proceeds stolen from victims of bogus investment platforms, according to the DoJ. These scams often involve professional money launderers and transnational criminal organizations operating globally.

How the Scams Work

Pig butchering scams target individuals primarily through dating apps and social media, where scammers cultivate romantic relationships to gain trust. Victims are lured into investing in fraudulent cryptocurrency platforms, often showing fake portfolios with unrealistically high returns to encourage additional deposits.

Many of the scammers are trafficked into compounds in Southeast Asia, where they are forced to participate in the operations under threat of violence. Victims’ money is quickly routed through multiple wallets to obscure its origin and ownership, making recovery extremely difficult.

Kyle D. Burns, Acting Special Agent in Charge of HSI Charlotte, emphasized:

“HSI special agents work diligently to trace the illicit proceeds of crime across the globe to disrupt and dismantle the transnational criminal organizations that seek to defraud hardworking Americans.”

Tether’s Role in Combating Illicit Activity

In response to ongoing fraud, Tether announced that it has frozen approximately $4.2 billion in assets linked to illicit activity to date, including $250 million related to scam networks since June 2025. These measures aim to limit the movement of stolen cryptocurrency and prevent further exploitation of victims.

The DoJ’s seizure represents one of the largest actions targeting pig butchering scams, highlighting the continued efforts of law enforcement and blockchain companies to trace and recover stolen funds in the evolving crypto crime landscape.

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1 Comment

scsec says:

March 3, 2026 at 12:42

This seizure highlights the ongoing risks of romance-based crypto scams and the importance of tracing illicit digital assets. Pig butchering scams exploit trust and technology simultaneously, and coordinated law enforcement efforts like this are crucial to protecting victims and disrupting transnational criminal networks.

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