U.S. Secret Service & Coinbase Freeze $225M from “Pig Butchering” Scam
The U.S. Secret Service, aided by Coinbase, recently seized a record-breaking $225 million in crypto linked to a sophisticated “pig butchering” scam—a romance-style fraud targeting unsuspecting victims $ETH
Criminals reportedly created fake relationships to gain trust, then coaxed victims into transferring funds. The operation, traced to over 140 OKX wallet addresses, affected at least 130 Coinbase users, who lost a combined $2.3 million before enforcement action commenced in early to mid-2025
The scope of this seizure marks a major victory for law enforcement and demonstrates the growing effectiveness of exchange-to-exchange collaboration in combating crypto crime. That said, it's a stark reminder: even well-intentioned investors can be exploited without vigilance.
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