On June 19, The Hill reported that the U.S. Department of Justice has just announced the largest cryptocurrency seizure to date related to a 'pig butchering' scam.

The U.S. Attorney's Office has petitioned the court to seize over $225.3 million (5.88 trillion VND) in cryptocurrency from a sophisticated money laundering network aimed at concealing the source of the funds obtained through scams.

Previously, the Federal Bureau of Investigation (FBI) and the Secret Service used blockchain analysis and 'other investigative techniques' to determine that these funds were linked to illegal activities.

'The seizure of $225.3 million related to these cryptocurrency investment scams is the largest cryptocurrency seizure in the history of the U.S. Secret Service,' said Shawn Bradstreet, a special agent in charge of the San Francisco (California) office of the U.S. Secret Service.

'These scams exploit trust, often leading to extreme financial hardship for victims. The U.S. Secret Service, FBI, and our private partners have worked diligently to track these illegal transactions, identify victims, and seize these funds so that they can ultimately be returned to their rightful owners,' he said.