Love Scams and Crypto: FBI Cracks $8.2M Romance Racket!

FBI and DOJ have seized $8.2 million in USDT from a romance baiting scam. This crypto fraud tricked victims into fake investments, with one victim losing $650K. The FBI traced the funds and revealed laundering patterns, paving the way for restitution. Pig butchering scams are growing, often linked to human trafficking.

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Published: March 29, 2025 6:20 pmAdded: March 29, 2025 at 11:40 amAssembled by: The Editor
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Hot Take:

Ah, romance! There’s nothing like it to make your heart flutter and your crypto plummet. Who knew that dating apps were the new frontier for financial fraud? Apparently, love isn’t the only thing in the air; deception is wafting around like a suspiciously sweet perfume. Kudos to the FBI for playing matchmaker with justice and these scammers’ wallets.

Key Points:

  • The DOJ seized over $8.2 million in USDT linked to romance baiting scams.
  • Fraudsters used anonymous messaging apps to manipulate victims into fake investments.
  • The FBI employed blockchain intelligence to trace and seize the stolen funds.
  • Tether collaborated by freezing and reissuing the fraudulent USDT to law enforcement.
  • This scam is associated with human trafficking and originated with Chinese crime syndicates.

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