TechFlow News: On February 25, according to the U.S. Department of Justice, the U.S. Attorney’s Office for the Eastern District of North Carolina announced the seizure of over $61 million worth of USDT. These funds were traced to cryptocurrency addresses linked to “pig-butchering” cryptocurrency investment scams.
Investigations revealed that perpetrators typically pose as romantic partners to gain victims’ trust, then claim to possess specialized expertise in generating high profits through cryptocurrency trading. They subsequently direct victims to fraudulent trading platforms that mimic legitimate services. These platforms display fictitious high-return investment portfolios to entice victims into increasing their investments. When victims attempt to withdraw funds, scammers demand additional payments—citing fabricated reasons such as “taxes” or “fees”—to further extract money.
