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Cryptonews Tags pig butchering

# pig butchering

All #pig butchering

Blockchain News
‘Pig-Butchering’ Scams Explode Into a National Security Threat, Chainalysis Warn
Pig-Butchering has evolved into a transnational crime model that links human trafficking, money laundering, and crypto fraud, as investigators, regulators, and exchanges have reported rising losses, large asset seizures, new enforcement campaigns, and repeated targeting of past victims.
, by Hassan Shittu
Bitcoin News
U.S. Moves to Seize Record $12B in Bitcoin from Global ‘Pig Butchering’ Scam After Joint Crackdown
A joint crackdown has traced Bitcoin proceeds from pig-butchering fraud to Prince Holding Group networks, seeking 127,000 BTC, while OFAC has sanctioned 146 parties and FinCEN has described billions laundered through shell companies and exchanges across regions.
, by Hassan Shittu
News
OFAC Sanctions Southeast Asian Crypto Crime Networks For Scamming Americans Out Of $10 Billion
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on criminal actors in Southeast Asia responsible for draining over $10 billion worth of Americans’ funds, a new press release from the U.S. Department of Treasury shows. OFAC Takes Action On Southeast Asian Digital Asset Scams According to the September 8 press release, OFAC issued sanctions against nine targets in Shwe Kokko, a “notorious hub for virtual currency investment scams” in...
, by Julia Smith
Tether Freezes $49.6M in ‘Pig Butchering’ Funds – Chainalysis, Binance, OKX Join APAC Crackdown
Stablecoin issuer Tether has frozen nearly $50 million in USDT tied to a Southeast Asia-based “pig butchering” scam in a joint operation with blockchain intelligence firm Chainalysis, crypto exchanges Binance and OKX, and regional law enforcement. The latest freeze shows the growing role of...
, by Hassan Shittu
Binance Joins T3+ Crime-Fighting Alliance, Freezes $6M in First Pig Butchering Case
Binance, the world’s largest cryptocurrency exchange, has become a member of T3+, a new global collaboration program dedicated to fighting illicit activity on the blockchain, and has contributed to its first successful case, helping freeze nearly $6 million linked to a pig-butchering...
, by Tanzeel Akhtar
Fake Japanese Bride Drains a Korean Man’s Savings via Crypto Scam
A Korean man in his 50s lost more than 100 million won ($73,500) after falling victim to a romance scam that leveraged cryptocurrency investments.
, by Amin Ayan
Citibank Accused of Ignoring Warnings in Alleged $20M Crypto Fraud Case
Citibank is facing a lawsuit due to failure to flag suspicious transactions tied to a crypto romance scam that cost him $20 million.
, by Amin Ayan
Coinbase Teams with US Secret Service for Massive $225M USDT Seizure in Pig Butchering Crackdown
Coinbase has played a major role in one of the largest crypto seizures in US law enforcement history, helping the Secret Service recover $225M in USDT stolen through pig butchering scams that devastated hundreds of victims worldwide. The landmark operation, which began with Tether freezing 39...
, by Anas Hassan
DOJ Seizes $225M – Largest Crypto Scam Bust Ever, 400+ Victims Targeted
The U.S. Department of Justice (DOJ) has moved to seize $225.3 million worth of Tether’s USDT, marking the largest crypto seizure tied to an alleged “pig butchering” investment scam. The operation is part of an ongoing crackdown on cryptocurrency-related fraud, which officials say has...
, by Hassan Shittu
FinCEN Issues Action to “Sever” Cambodia-Based Huione Group Over Crypto Laundering Ties
The U.S. Treasury’s financial crimes arm has proposed removing the Huione Group, a Cambodia-based financial conglomerate, from the US financial system for its alleged involvement in Lazarus-linked crypto laundering. The FinCEN announced on Thursday that the Group serves as a “critical node for...
, by Sujha Sundararajan
India Partners with Google and Facebook to Combat Crypto Pig Butchering Scams: 2024 Report
India is intensifying efforts to curb pig butchering scams, a form of investment fraud that leverages crypto, by collaborating with tech giants Google and Facebook. According to the Indian Union Home Ministry's 2024 annual report, these scams primarily target vulnerable groups such as...
, by Hassan Shittu
Pig Butchering Crypto Scams Cost Victims $3.6B in 2024: Report
According to a report by Web3 security firm Cyvers, publicized through Nairametrics, pig butchering scams emerged as the most significant threat to crypto users in 2024, accounting for $3.6 billion in losses. This type of long-term fraud, which involves scammers grooming victims over time to...
, by Hassan Shittu
Chinese Citizen Pleads Guilty in $73M Cryptocurrency ‘Pig Butchering’ Scheme
Daren Li pleaded guilty on Tuesday to conspiracy to commit money laundering in connection with a $73 million cryptocurrency scam.
, by Ruholamin Haqshanas
U.S. Authorities Recover $5M Tether in ‘Pig Butchering’ Scam
U.S. authorities have seized almost $5 million worth of Tether allegedly associated with “pig butchering” scams.The Tether was stolen using cryptocurrency investment scams, and the investigation team worked with Tether for its help in transferring the assets, said the U.S. Attorney for...
, by Tanzeel Akhtar
Ex-Kansas Banker Charged for Embezzling Millions Via Crypto Scheme
Ex-CEO of the now-defunct Kansas-based Heartland Tri-State Bank, has been charged for his alleged involvement in a fraud crypto scheme. Shan Hanes, of Elkhart pleaded guilty to one count of embezzlement, involving tens of millions of dollars in crypto. Apparently, the fraud scheme led the bank...
, by Sujha Sundararajan
Dutch Police Intercept Global ‘Pig Butchering’ Scam Involved in Stealing $162M from Victims
Rotterdam's police has helped dismantle an extensive "pig butchering" scam, a fraud operation preying on victims via dating.
, by Ruholamin Haqshanas
U.S. Files Civil Forfeiture To Recover Millions in Pig Butchering Scams
The U.S. has filed a civil forfeiture to recover millions of USDT involved in recent pig butchering scams. Here's the latest.
, by Julia Smith
Follower of Crypto Influencer ZachXBT Scammed by Impersonated a16z Member
In a recent and highly sophisticated scam, a follower of the renowned crypto influencer ZachXBT was targeted by a fraudulent account posing as a member of the prestigious venture capital firm a16z (Andreessen Horowitz). The victim, unfortunately, lost a staggering $ 245,000 in this fraudulent...
, by Hassan Shittu
US Govt. Files Forfeiture Action Against Scam-Linked Tether Held in Binance
Documents filed in the US District Court of Columbia showed that the government has launched a forfeiture complaint against $200,000 worth of Tether (USDT) held in Binance exchange. The cryptos were linked to a popular pig-butchering crypto scam worth $1.1 million. The court describes the nation...
, by Sujha Sundararajan
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