The Department of Justice (DOJ) has struck a significant blow against the rampant fraud plaguing American citizens, seizing $225 million in crypto from a massive fraud scheme.
See the tweet below this post.
As digital financial crimes threaten hardworking citizens, federal agents have finally struck back against this growing criminal enterprise that has stolen billions from unsuspecting investors.
The DOJ announced its largest-ever seizure of cryptocurrency funds linked to elaborate “pig butchering” scams.
The civil forfeiture complaint filed in U.S. District Court for the District of Columbia targets more than $225.3 million in cryptocurrency that was funneled through a sophisticated blockchain-based money laundering network.
This was designed to hide the source of fraudulently obtained funds.
These criminal schemes, which have defrauded victims worldwide of more than $5.8 billion last year alone, typically involve building fake relationships with victims before convincing them to invest in fraudulent cryptocurrency platforms.
Scammers “fatten up” their victims with false promises of high returns before “slaughtering” them financially when they have invested enough money – hence the disturbing “pig butchering” nickname.
OKX and Tether tipped law enforcement to 144 OKX Accounts that were involved in laundering the proceeds of pig butchering scams, leading to the seizure of $225.3 million, the largest cryptocurrency seizure in U.S. Secret Service history.. https://t.co/1tibORcbSg pic.twitter.com/smynC05evI
— Congregant of the Mighty-Church of Demon-Rats (@ImDrinknWyn) June 18, 2025
The operation identified at least 400 suspected victims who were deceived into putting their hard-earned money into what they believed were legitimate investment opportunities.
The FBI and Secret Service employed advanced blockchain analysis techniques to trace the stolen cryptocurrency through complex transaction networks designed to obscure the criminal money trail.
“The forfeiture of these illicit funds is a powerful tool in the FBI’s toolbox to stop the fraudsters who are operating online from stealing from the American people,” said Assistant Director Jose A. Perez of the FBI Criminal Division.
While government agencies often fail to protect citizens from emerging threats, this rare successful intervention represents the largest cryptocurrency seizure in U.S. Secret Service history.
The operation also received assistance from Tether, a major stablecoin issuer, demonstrating that private sector cooperation can enhance law enforcement capabilities when combating digital financial crimes.
Many of these scams begin as romance scams, where criminals develop online relationships with vulnerable individuals before introducing investment “opportunities” that turn out to be elaborate frauds.
The scams particularly target older Americans who may be less familiar with cryptocurrency technology but are looking for investment opportunities in today’s challenging economic climate.
The seized funds will now undergo forfeiture proceedings, which could potentially return some money to victims of these schemes.
However, the damage extends far beyond financial losses, as many victims experience significant emotional trauma from both the financial devastation and betrayal of trust.
The FBI has emphasized its commitment to continue working with victims and raising awareness about these scams.
“The FBI will not standby while these criminals target unsuspecting victims who believe they are making legitimate investments,” Assistant Director Perez added.
This ultimately highlights the agency’s dedication to protecting Americans from predatory financial schemes that have flourished in the largely unregulated cryptocurrency market.
