Love Hurts: DOJ Reels in $8.2M Crypto Scam Fish with ‘Romance Baiting’ Bust

The U.S. Department of Justice seized over $8.2 million in stolen USDT from ‘romance baiting’ scams. Victims are lured by fake investment platforms with promises of massive returns, only to watch their life savings vanish. The DOJ’s action offers hope for restitution, highlighting the need for vigilance against too-good-to-be-true schemes.

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Published: March 29, 2025 5:59 pmAdded: March 29, 2025 at 11:10 amAssembled by: The Editor
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Hot Take:

Looks like love and crypto just don’t mix. The DOJ swooped in like a knight in shining armor, rescuing $8.2 million worth of stolen Tether from the clutches of the dreaded ‘romance baiting’ scammers. Unfortunately, for the victims, the ‘return on investment’ was more like a return to heartbreak.

Key Points:

  • The DOJ seized over $8.2 million in Tether cryptocurrency from ‘romance baiting’ scammers.
  • This type of scam tricks victims into fake investment platforms with promises of big returns.
  • The FBI tracked the laundering patterns, enabling the legal seizure of assets.
  • The complaint cites the involvement of human trafficking syndicates in Cambodia and Myanmar.
  • Victims were conned into investing large sums, with the worst-case individual loss hitting $663,352.

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