The U.S. Secret Service plans to confiscate $225.3 million in cryptocurrency assets from a money laundering network involved in a certain encryption scam, setting the record for the highest amount seized in a single instance.
On June 19, according to an official announcement, the U.S. Department of Justice's Office of the District of Columbia Attorney filed a civil forfeiture lawsuit in federal court seeking the forfeiture of more than $225.3 million worth of cryptocurrency. According to the indictment, the U.S. Secret Service and the FBI have ascertained through blockchain analysis and other technical means that the cryptocurrency is related to the theft and money laundering of cryptocurrency investment fraud cases such as "pig slaughter". The indictment alleges that the cryptocurrency addresses involved constituted a complex on-chain money laundering network that executed hundreds of thousands of transactions specifically to disguise the origin and flow of the proceeds of fraud. Scammers disperse funds through a large number of cryptocurrency addresses and accounts, creating a fog of funds. The investigation has confirmed that dozens of victims across the United States have been deceived by mistakenly believing in fake investment platforms, and more than 400 suspected victims around the world have lost millions of dollars in a single case. The San Francisco branch of the Secret Service noted that the case set a record for the highest amount of a single cryptocurrency call in the agency's 160-year history. The case was led by a team of prosecutors from the Department of Justice's Computer Crime and Intellectual Property Division, with stablecoin issuer Tether providing proactive assistance in the investigation.
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The U.S. Secret Service plans to confiscate $225.3 million in cryptocurrency assets from a money laundering network involved in a certain encryption scam, setting the record for the highest amount seized in a single instance.
On June 19, according to an official announcement, the U.S. Department of Justice's Office of the District of Columbia Attorney filed a civil forfeiture lawsuit in federal court seeking the forfeiture of more than $225.3 million worth of cryptocurrency. According to the indictment, the U.S. Secret Service and the FBI have ascertained through blockchain analysis and other technical means that the cryptocurrency is related to the theft and money laundering of cryptocurrency investment fraud cases such as "pig slaughter". The indictment alleges that the cryptocurrency addresses involved constituted a complex on-chain money laundering network that executed hundreds of thousands of transactions specifically to disguise the origin and flow of the proceeds of fraud. Scammers disperse funds through a large number of cryptocurrency addresses and accounts, creating a fog of funds. The investigation has confirmed that dozens of victims across the United States have been deceived by mistakenly believing in fake investment platforms, and more than 400 suspected victims around the world have lost millions of dollars in a single case. The San Francisco branch of the Secret Service noted that the case set a record for the highest amount of a single cryptocurrency call in the agency's 160-year history. The case was led by a team of prosecutors from the Department of Justice's Computer Crime and Intellectual Property Division, with stablecoin issuer Tether providing proactive assistance in the investigation.