TechFlow news — According to a press release on December 14, the U.S. Department of Justice (DOJ) announced charges against four individuals: Lu Zhang, Justin Walker, Joseph Wong, and Hailong Zhu.
They transferred funds into domestic and international financial institutions. The overall fraud scheme involved at least 284 transactions, resulting in over $80 million in losses to victims, with more than $20 million in victim funds directly deposited into bank accounts linked to the defendants. The U.S. Secret Service Global Investigative Operations Center is investigating the case.
According to court documents, the "pig-butchering" fraud scheme involved scammers identifying victims through dating services, social media, or unsolicited messages or calls. The scammers built relationships with victims and gradually gained their trust, eventually introducing the idea of business investments using cryptocurrency.
