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'Heartless Frauds': Feds Seize Record $225M In Crypto From 'Pig Butchering' Scammers 'Heartless Frauds': Feds Seize Record $225M In Crypto From 'Pig Butchering' Scammers
'Heartless Frauds': Feds Seize Record $225M In Crypto From 'Pig Butchering' Scammers Federal agents have seized the largest amount of cryptocurrency ever related to "pig butchering" scams, where victims were tricked into fake online relationships. The Department of Justice announced the seizure of $225.3 million in crypto from the global "confidence scam" on Wednesday, June 18. The scam is also known as "pig butchering" since it uses tactics used to "fatten up" victims before draining their savings. Scammers relied on false identities through online messaging to gain trust and enter fake relationships before pushing fraudulent investments. "These scams prey …

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by Chris Spiker