Crypto News | July 2025
The U.S. Department of Justice (DOJ) has recovered $40,300 in $USDT (Tether) connected to a sophisticated phishing scam that impersonated members of the Trump-Vance Inaugural Committee. This case highlights the increasing risks in the crypto space and the growing role of major firms like Tether in assisting law enforcement.
Scam Overview: $250K Stolen Through Fake Email
In December 2024, a donor was deceived into sending $250,300 in USDT after receiving a fake email appearing to come from the Trump-Vance Inaugural Committee. The scammers used a nearly identical domain name to trick the victim into believing the message was legitimate.
The funds were sent to a wallet under the scammers’ control and then moved through various addresses to hide the origin. This type of scam is becoming more common, targeting both individuals and organizations involved in crypto transactions.
FBI Traces Crypto Funds Using Blockchain Technology
Thanks to advanced blockchain tracking tools, the FBI was able to follow the stolen assets and recover $40,300. The DOJ has filed a civil forfeiture case to return the funds to the rightful owner.
An FBI spokesperson emphasized the importance of caution: “Never send cryptocurrency to someone you don’t personally know or only interacted with online.”
Tether Assists in Recovery Process
Tether, the issuer of the USDT stablecoin, worked closely with authorities by freezing the identified funds and assisting in their transfer. This is part of Tether’s broader efforts to support law enforcement in preventing fraud and recovering stolen crypto assets.
Previously, Tether also helped recover over $225 million in another major scam, showing the company’s growing focus on security and compliance.
Crypto Scams Increasing With Growing Adoption
This incident reflects a broader trend: as digital assets like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Solana (SOL) gain popularity, scams are becoming more sophisticated. In 2024, political campaigns, including Donald Trump's, started accepting crypto donations, opening new opportunities — and risks — for digital finance.
With more people entering the crypto world, the need for awareness, security, and cooperation between tech companies and law enforcement is stronger than ever. Federal agencies are expected to continue expanding their focus on crypto-related fraud as the market evolves.
