ChainCatcher News, the U.S. District Attorney’s Office for Eastern North Carolina announced the seizure of over $61 million worth of USDT. These funds have been traced to cryptocurrency addresses associated with “pig-butchering” cryptocurrency investment scams.
Investigations show that criminals often establish romantic relationships to gain victims’ trust, then claim to possess specialized skills for generating high profits through cryptocurrency trading. They guide victims to use fake trading platforms that mimic legitimate ones. These platforms display fictitious high-return investment portfolios, enticing victims to invest more. When victims attempt to withdraw funds, scammers further extort money by citing “taxes” or “fees.”
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