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In a major win for crypto security, Coinbase teamed up with the U.S. Secret Service to help seize $225 million in stolen USDT—the largest crypto seizure in the agency’s history.
The scam, known as a “pig butchering” scheme, tricked victims into fake online relationships or business deals. Once trust was built, scammers convinced them to invest in crypto—then vanished with the funds.
🔍 How it happened:
Tether froze 39 suspicious wallets in late 2023.
Investigators traced the funds to 140+ accounts on OKX.
Coinbase joined a multi-day “investigative sprint” in early 2024.
Over 130 victims were identified, with $2.3M in losses just from Coinbase users.
On June 18, 2025, the U.S. government officially seized the funds.
💡 Key Insights:
Exchanges like Coinbase are becoming key allies in fighting crypto crime.
Blockchain transparency helped trace stolen funds—showing crypto isn’t as anonymous as scammers think.
Victims can now file claims to recover their funds via IC3.gov using code BT06182025.
📊 Poll: Do you trust centralized exchanges more after this?
✅ Yes—they’re stepping up for user safety
🤔 Maybe—still cautious
❌ No—I prefer full self-custody
#CryptoSecurity
