The US Government Seizes Nearly $9 Million USDT in Connection with "Rug Pull" Crypto Scam
BlockBeats News, June 17th, according to Bloomberg, the U.S. government has seized nearly $9 million USDT, these funds were traced to an organized fraud network. The U.S. Department of Justice stated that the network stole millions of dollars from victims across the United States.
The U.S. Department of Justice said that this action is related to a scam known as the "Romance Scam." The organization used over 70 victims by creating a non-existent cryptocurrency exchange. The "Romance Scam" typically refers to fraudsters gradually gaining the trust of victims through false romantic or personal relationships, as well as fictitious investment returns, and then taking away the funds and disappearing.
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a warning earlier this year about such prevalent crimes, stating that the related frauds have led to losses of billions of dollars for American victims.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Keep a Close Eye on Wednesday: There Are Reports of a Vote That Will Determine Bitcoin’s Fate in the U.S
US private credit default rate rises to 6.3%, hitting a new high, while software industry default rate drops to 0.6%
According to Fitch's latest report, the default rate for US private credit, tracking 1,300 borrowers, rose to 6.3% by the end of August over the past 12 months, surpassing the previous record high of 6.1% in July. Default rates in the healthcare, industrial, and manufacturing sectors all reached 9.9%, while the technology software sector defied the trend and fell to 0.6%. Although concerns about AI disruption have put pressure on the software industry, they have not yet had a substantive impact on the sector's credit quality.
Corebridge Financial CIO David Ditillo disposes of 8,736 shares worth $305,760
Robinhood director Baiju Bhatt reports disposal of 43,373 common shares worth $4.96 million
Crypto prices
More
