DOJ Seizes $61 Million in Tether Linked to Pig-Butchering Scams
Summary
The DOJ says it seized $61 million in Tether allegedly tied to pig-butchering scams, tracing funds to wallets used to launder victims’ proceeds. Tether says it has frozen about $4.2 billion in illicit assets, including nearly $250 million tied to scam networks since 202
Key points
- The DOJ announced it seized $61 million in Tether allegedly associated with pig-butchering cryptocurrency scams.
- The DOJ said the funds were traced to cryptocurrency addresses used to launder proceeds stolen from victims.
- The scams use romance or investment approaches on dating and social apps; people trafficked to scam compounds in Southeast Asia are coerced into targeting victims.
- Fake investment platforms display fabricated returns and demand additional fees when victims try to withdraw funds.
- Tether says it has frozen about $4.2 billion in assets linked to illicit activity, including nearly $250 million tied to scam networks since June 2025.
Article Details
- Event Type
- U.S. Department of Justice seizure of cryptocurrency linked to pig-butchering investment scams.
- Impact
- Authorities seized $61 million in Tether allegedly associated with the scams and traced the funds to cryptocurrency addresses used to launder proceeds stolen from victims. The schemes used romance and investment fraud, fabricated returns, and extra withdrawal fees to extract money.