TechFlow News — The U.S. Department of Justice announced today the seizure of nearly $9 million worth of USDT, funds traceable to a cryptocurrency address linked to a fraud organization involved in over 70 victims.
According to court documents, the criminals worked together to target victims, convincing them through deceptive means that they were investing with trusted companies and cryptocurrency exchanges. In reality, these purported companies and exchanges were non-existent trading platforms.
The case is being handled by Georgiana MacDonald, Trial Attorney from the Criminal Division’s Computer Crime and Intellectual Property Section, along with National Cryptocurrency Enforcement Team prosecutors and Assistant U.S. Attorneys Chris Kaltsas and Galen Phillips of the Northern District of California, as well as the seizure and forfeiture actions.
The Department expressed gratitude to Tether for its assistance in facilitating these asset transfers.
