The US Attorney’s Office in Massachusetts has initiated a civil forfeiture action to reclaim $2.3 million in cryptocurrency linked to internet fraud, targeting 37 victims nationwide.
The initiative targets digital currencies like USDC, USDT, TRX, SOL, BNB, ADA, and ETH held in two Binance accounts. These assets were frozen following an investigation into a “pig butchering” scam that defrauded a Massachusetts resident of $400,000.
The action, backed by federal agencies, aims to combat internet fraud, with collaboration between authorities and crypto platforms like Binance and Tether. Tether aided in recovering $1.4 million from a tech support scam, highlighting broader fraud beyond crypto.
The civil forfeiture process allows victims to potentially recover seized assets, providing a legal framework to address the consequences of online offenses. It emphasizes the importance of reporting cybercrimes to receive the necessary support and resources.
The US Attorney’s Office encourages victims to report cybercrimes, ensuring they receive support and resources. This comprehensive approach ensures victims receive aid in recovering their losses.
Also Read: Oconomowoc Woman Defrauded of $24,000 in Crypto Scam
