The US seizes a record 225 million USDT related to "pig butchering" scams

The US Department of Justice (#DOJ ) has just filed to seize 225.3 million USD USDT, marking the largest seizure of digital assets ever recorded related to the "pig butchering" scams – a form of building trust and then stealing assets through crypto.

According to the official announcement, this money was laundered through the OKX exchange, related to 144 IP accounts from #Philippines . This is part of a sophisticated scam network originating from Asia, often starting with fake social media accounts to reach out to victims, building emotional connections, and then convincing them to invest in cryptocurrency.

USDT – the third largest stablecoin in the market – is the primary asset used in this case. Tether's CEO, Paolo Ardoino, asserted that the company is leading in compliance and cooperating with authorities to prevent the abuse of stablecoins. Previously, Tether froze more than 2.7 billion USD related to criminal activities.

This serves as a strong warning to users about the risks of scams in the digital asset space, especially with emotional and “sentimental” approaches from fraudsters.

Crypto has potential, but it is also a dangerous area if vigilance is lacking.