In January of 2024, the coin was removed from two Binance accounts. A victim of a "pig butchering" romance scam in Massachusetts prompted investigators to start tracking the monies.
On Wednesday, the 35 victims of internet fraud and scams will get their $2.3 million worth of cryptocurrencies back thanks to a civil forfeiture lawsuit that the US Attorney's Office in Massachusetts launched.
After a probe into a "pig butchering" hoax targeting a Massachusetts resident last spring, two Binance accounts had the cryptocurrencies seized in January
These included roughly 300,000 USDC, 1.5 million USDT, 102,000 TRX, 3,000 SOL, and 14,000 ADA. After deceiving the victim into parting with $400,000, the con artists moved the money to other wallets, which authorities then linked to the money of 36 other victims.
In order for victims to get their money back, the forfeiture procedure must include a civil forfeiture case, which gives third parties the chance to stake a claim to the property.
This move by the USAO follows allegations that an unhosted virtual cryptocurrency wallet linked to a suspected tech support fraud targeting the elderly had $1.4 million in Tether seized last week by the U.S. Attorney's Office in Chicago.
In a voluntary effort to help recover these assets, Tether burned the cash associated with the accused scammers and reissued them to victims in other wallets controlled by the authorities.
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