The U.S. government seized an Ethereum wallet holding approximately $2.12 million in USDT through a civil in rem forfeiture action. The funds are linked to a « pig butchering » investment scam that lured victims to fake cryptocurrency platforms promising guaranteed returns. Fraudsters approached victims through dating apps, WhatsApp, social media, and fraudulent job offers before convincing them to make additional payments under the guise of taxes or verification fees to access their funds. The DOJ stated that the USDT is subject to forfeiture under federal law as proceeds of wire fraud and money laundering, with authorities collaborating with Tether to freeze the tokens. The FBI received over 41,000 complaints regarding cryptocurrency investment fraud in 2024, resulting in $5.8 billion in total losses.
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