Citibank Accused of Ignoring $20 Million Cryptocurrency 'Pig Butchering' Scam Related Suspicious Transaction Signs

A cryptocurrency 'pig butchering' victim, Michael Zidell, sued Citibank in Manhattan federal court, accusing the bank of ignoring suspicious transaction alerts that led to him being defrauded of $20 million. The complaint shows that Zidell transferred funds through 43 transactions to multiple bank accounts controlled by the scammers, with nearly $4 million going into Citibank's Guju Inc account. This 'pig butchering' scam began in 2023, with the scammers posing as a businessman named 'Carolyn Parker' luring Zidell into investing in NFTs through Facebook. The complaint points out that Citibank failed to investigate unusual transfers of large round amounts, violating anti-money laundering monitoring obligations. When Zidell discovered that the trading platform named OpenrarityPro had suddenly shut down, the funds were unrecoverable. $BTC #香港加密概念股