2 years ago
The U.S. Department of Justice (DOJ) said successful a March 3 announcement that it has seized $112 cardinal worthy of integer assets tied to crypto concern scams.
Specifically, the bureau seized six crypto accounts crossed 3 states successful the District of Arizona, the Central District of California, and the District of Idaho.
Those cryptocurrency accounts were allegedly utilized to launder funds from scams. The perpetrators gradually earned the spot of their victims done societal networks, dating websites, telephone calls, and truthful on. Ultimately, the perpetrators convinced their targets to put successful cryptocurrency platforms and funneled the funds to their ain addresses.
The DOJ said that this benignant of scam is called “Sha Zhu Pan,” a Chinese operation that means “pig butchering.” Most of the victims were betwixt the ages of 30 and 49.
The bureau added that crypto fraud including pig butchering schemes accrued 183% betwixt 2021 and 2022, amounting to $2.57 cardinal of stolen funds. This accounted for astir fraud reported to the FBI’s online transgression center, which amounted to $3.31 cardinal successful total.
The station DOJ seizes $112M tied to cryptocurrency schemes appeared archetypal connected CryptoSlate.
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