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List of Flash News about pig butchering scam

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2025-07-06
17:53
Web3 'Ponzi VCs' Expose Market Risks Amid DOJ's $225 Million USDT Seizure from Pig Butchering Scam

According to @KookCapitalLLC, the Web3 space is being strangled by 'Ponzi VCs' who prioritize rapid token exits over sustainable revenue, contributing to a decline in global venture financing, which fell to $23 billion in April. This model, characterized by short vesting periods and hype cycles, attracts regulatory action, such as a recent $198 million SEC fraud case, and deters talent. Simultaneously, the real-world impact of crypto-related crime is highlighted by a major Department of Justice (DOJ) action to seize over $225 million in laundered Tether (USDT) from a 'pig butchering' scam. This specific scam led to the collapse of Heartland Tri-State Bank after its CEO embezzled $47 million. The DOJ complaint notes that the crypto exchange OKX was key in tracing the funds. The seized USDT may eventually be added to a U.S. government crypto stockpile, a move that could have long-term implications for the stablecoin's market dynamics.

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2025-07-06
10:24
DOJ's $225M Crypto Seizure Signals a Major Crackdown on Pig Butchering Scams, Aims to Boost Investor Confidence

According to @FoxNews, the U.S. Department of Justice's recent move to seize $225 million in cryptocurrency linked to 'pig butchering' scams is a significant 'tone-setting case' designed to protect victims and recover stolen funds. Phil Selden, a former acting U.S. Attorney, stated that the DOJ is acting proactively to seize the assets even before making arrests, sending a clear message that crypto crime impacting American citizens will be aggressively pursued. Selden emphasized that these are not victimless crimes, citing the collapse of Heartland Tri-State Bank after its CEO was scammed. This decisive law enforcement action is intended to show victims that their losses are taken seriously and that the DOJ is working to enhance security in the digital asset space, which could foster greater long-term investor confidence and market stability.

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2025-07-06
07:12
Massive Crypto Crackdown: Spanish Police Bust $540M Fraud Ring as DOJ Seizes $225M in USDT (Tether) from 'Pig Butchering' Scam

According to @FoxNews, international law enforcement has taken significant action against major crypto-related financial crimes. Spanish police, in an operation supported by Europol, arrested five individuals suspected of laundering 460 million euros ($540 million) stolen from over 5,000 victims, Europol stated. The criminal network allegedly used a Hong Kong-based corporate structure to funnel illicit funds through cash, bank transfers, and crypto payments across various exchanges. In a separate case, the U.S. Department of Justice (DOJ) filed a civil forfeiture action to seize over $225 million in the stablecoin USDT, which was laundered through a massive 'pig butchering' scam. The DOJ complaint notes that this scam was directly linked to the 2023 collapse of Heartland Tri-State Bank, as its former CEO embezzled $47 million and lost a significant portion to the scammers. The investigation, which received key information from the OKX exchange, uncovered a complex laundering network with ties to the Philippines that processed approximately $3 billion in transaction volume. The seized USDT is likely to be held in a future U.S. government strategic cryptocurrency reserve.

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2025-07-06
03:00
DOJ's $225M Crypto Seizure Signals Major Enforcement Shift; FBI Veteran Joins TRM Labs Amid Stable ETH and LINK Prices

According to @FoxNews, the U.S. Department of Justice's recent move to seize $225 million in crypto linked to pig butchering scams is a "tone-setting case" that signals a more proactive enforcement strategy, as stated by former acting U.S. Attorney Phil Selden. This approach prioritizes the recovery of victim funds even before arrests are made, highlighting the real-world consequences of crypto crime, such as the collapse of a Kansas bank. This trend of heightened scrutiny is further evidenced by former FBI crypto investigations expert Christopher Wong joining blockchain intelligence firm TRM Labs. Wong's experience in major cases like the Bitfinex hack and the Axie Infinity Ronin Bridge breach will bolster private-sector surveillance capabilities, pointing towards a more regulated trading environment. These regulatory developments unfold as major cryptocurrencies like Ethereum (ETH) trade around $2,520 and Chainlink (LINK) holds near $13.17, indicating market stability.

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2025-07-05
18:12
DOJ's $225M Crypto Seizure Signals New Era of Enforcement Against Scams, Analyst Warns

According to @FoxNews, the U.S. Department of Justice's move to seize $225 million in cryptocurrency tied to 'pig butchering' scams signals a major shift in enforcement strategy that could impact the crypto market. Phil Selden, a former acting U.S. Attorney, described the action as a 'tone-setting case,' noting the DOJ is now prioritizing asset seizure to compensate victims even before arrests are made. This proactive approach, reportedly driven by new criminal division head Matthew Galeotti, highlights the tangible risks of crypto crime, citing the case where a scam led to the collapse of Heartland Tri-State Bank. For traders, this intensified focus on illicit finance signifies heightened regulatory risk and the potential for increased market volatility as law enforcement cracks down. Selden anticipates that criminal charges are on the horizon, suggesting a sustained campaign that could lead to stricter compliance measures across the digital asset space.

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2025-07-05
13:12
DOJ's $225M USDT Seizure in Pig Butchering Scam Highlights OKX Role and Future of US Crypto Stockpile

According to @FoxNews, the U.S. Department of Justice (DOJ) has initiated a civil forfeiture action to seize over $225 million in Tether (USDT) linked to a large-scale 'pig butchering' scam. Former acting U.S. Attorney Phil Selden described this as a 'tone-setting case,' emphasizing the DOJ's focus on recovering victim funds even before arrests are made. The investigation revealed the scam's connection to the 2023 collapse of Heartland Tri-State Bank, whose CEO embezzled $47 million and sent it to the scammers. From a trading perspective, the crypto exchange OKX played a pivotal role by providing key information that helped uncover a laundering network that allegedly processed $3 billion in volume. The complaint also suggests the seized USDT will likely be added to a future U.S. government crypto stockpile, a significant development for long-term market structure and government involvement in digital assets.

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2025-07-04
16:25
Shaquille O'Neal's $1.8M FTX Settlement & DOJ's $225M Crypto Seizure Signal Increased Scrutiny as Ethereum (ETH) Price Dips Below $2,500

According to @FoxNews, recent legal and regulatory actions are creating headwinds for the cryptocurrency market. NBA legend Shaquille O’Neal has reportedly agreed to a $1.8 million settlement in a class-action lawsuit over his promotion of the collapsed crypto exchange FTX. This development highlights the continuing legal fallout impacting celebrity endorsements in the crypto space. In a separate enforcement action, the U.S. Department of Justice (DOJ) is moving to seize $225 million in crypto tied to 'pig butchering' scams. Former Acting U.S. Attorney Phil Selden described this as a 'tone-setting case' to demonstrate the DOJ's commitment to recovering stolen funds for victims. Amidst this heightened regulatory environment, the price of Ethereum (ETH) has declined, with ETH/USDT falling approximately 3.95% to trade around $2,493, dropping below the key $2,500 support level.

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2025-07-04
14:23
DOJ's Record-Breaking $225M USDT Seizure Exposes Pig Butchering Scam Linked to Kansas Bank Collapse

According to @Pentosh1, the U.S. Department of Justice (DOJ) has initiated a civil forfeiture action to seize over $225 million in USDT linked to a massive 'pig butchering' scam, as detailed in a recent complaint. The investigation revealed that the disgraced former CEO of Heartland Tri-State Bank, Shan Hanes, embezzled $47 million and sent it to these scammers, directly causing the bank's collapse in 2023, according to the DOJ and a Federal Reserve report. Crypto exchange OKX played a crucial role by providing information that helped investigators trace the laundered funds through a network of over 200 accounts to a scam operation based in Manila. Former Acting U.S. Attorney Phil Selden characterized the seizure as a 'tone-setting case' to demonstrate the DOJ's commitment to recovering stolen crypto for victims. For traders, this major enforcement action, targeting billions in illicit transaction volume, underscores heightened regulatory scrutiny on crypto laundering and could impact compliance standards for exchanges and sentiment around stablecoins like USDT.

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2025-07-04
12:20
DOJ's $225M USDT Seizure Signals Crypto Crime Crackdown and Potential U.S. Government Stockpile

According to FoxNews, the U.S. Department of Justice (DOJ) has moved to seize $225 million in USDT tied to 'pig butchering' scams, a move described by former acting U.S. Attorney Phil Selden as a 'tone-setting case' for increased enforcement. The investigation, which received key information from the crypto exchange OKX, uncovered a sophisticated laundering network that processed approximately $3 billion in transactions and was linked to the collapse of Heartland Tri-State Bank after its CEO embezzled $47 million. For traders, a significant implication is that the seized crypto, primarily USDT, may be earmarked for a future U.S. government stockpile, as ordered by President Donald Trump. This could lead to the establishment of a formal government reserve for Bitcoin (BTC) and other cryptocurrencies, potentially impacting long-term market dynamics through government-controlled holdings and future liquidations.

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2025-07-04
12:10
DOJ's $225M USDT Seizure: How a Pig Butchering Scam Toppled a Bank and What It Means for Crypto Traders

According to @FoxNews, the U.S. Department of Justice (DOJ) has initiated a civil forfeiture action to seize over $225 million in Tether (USDT) linked to a sophisticated 'pig butchering' scam. The DOJ complaint reveals that this criminal operation was directly responsible for the 2023 collapse of Heartland Tri-State Bank in Kansas after its CEO embezzled and transferred $47 million to the scammers. Former acting U.S. Attorney Phil Selden described the case as a 'tone-setting' move by the DOJ, signaling a proactive approach to seizing illicit crypto assets to protect victims even before arrests are made. For traders, a key development is that crypto exchange OKX provided crucial information that helped uncover the laundering network, which allegedly handled approximately $3 billion in transaction volume. The seized USDT may eventually be added to a U.S. government crypto stockpile, a factor that could have long-term implications for market supply.

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2025-07-04
03:35
Crypto Security Alert: North Korean Hackers Target Coinbase & Uniswap Staff as DOJ Seizes $225M from Scams

According to @timnitGebru, the cryptocurrency sector faces significant security and regulatory pressures. A North Korean hacking group, Famous Chollima, is actively targeting crypto professionals with malware hidden in fake job applications impersonating firms like Coinbase and Uniswap, as reported by Cisco Talos. This Python-based malware, PylangGhost, is designed to steal credentials and wallet data from over 80 extensions, including MetaMask and Phantom, creating a direct threat to user assets. Concurrently, the U.S. Department of Justice has seized $225 million in crypto linked to 'pig butchering' scams. Former U.S. Attorney Phil Selden described this as a 'tone-setting case' demonstrating the DOJ's commitment to protecting victims and recovering funds, even before arrests are made. These developments unfold as major assets like Ethereum (ETH), priced around $2,549, and Chainlink (LINK), at $13.32, experience downward price pressure, highlighting market sensitivity to security breaches and enforcement actions.

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2025-07-04
02:10
DOJ Seizes $225M in USDT from Pig Butchering Scam as Trump-Backed American Bitcoin Raises $220M to Buy BTC

According to @FoxNews, the U.S. Department of Justice (DOJ) has initiated a civil forfeiture action to seize over $225 million in Tether (USDT) linked to a sophisticated 'pig butchering' scam. The investigation, which received key assistance from the crypto exchange OKX, uncovered a complex money laundering network responsible for approximately $3 billion in transaction volume, according to the DOJ complaint. This scam notably ensnared the former CEO of Heartland Tri-State Bank, whose $47 million embezzlement led to the bank's collapse in 2023; the DOJ complaint stated he was both a perpetrator and a victim. The seized USDT may be allocated to a U.S. government crypto stockpile, a move that could impact the stablecoin's long-term market dynamics. In separate news with significant market implications, American Bitcoin Corp, a mining firm backed by Eric and Donald Trump Jr. and majority-owned by Hut 8 (HUT), has raised $220 million, per an SEC filing. The capital is designated for acquiring more Bitcoin (BTC) for its treasury and upgrading its mining fleet, signaling potential buying pressure on BTC and a bullish outlook for the mining sector. The firm also plans to go public by merging with Gryphon Digital Mining (GRYP), potentially affecting HUT and GRYP stock prices.

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2025-07-03
21:10
DOJ's Record $225M USDT Seizure from Pig Butchering Scam Highlights Real-World Impact on Victims and Banks

According to Eleanor Terrett, the U.S. Department of Justice (DOJ) is moving to seize $225 million in cryptocurrency, primarily Tether (USDT), tied to a large-scale 'pig butchering' scam that led to the collapse of a Kansas bank. Former acting US Attorney Phil Selden described the move as a "tone-setting case" to demonstrate the DOJ's commitment to protecting victims by seizing illicit funds even before arrests are made. The DOJ complaint reveals that crypto exchange OKX provided crucial information that helped trace the laundered funds, which were funneled through a complex network of over 200 wallets and accounts linked to a Philippines-based operation. This network processed approximately $3 billion in transaction volume. The scam's most prominent victim-perpetrator was Shan Hanes, former CEO of Heartland Tri-State Bank, who embezzled $47 million, causing the bank's failure in 2023. The seized USDT will likely be held in a U.S. government crypto reserve, but the process for returning funds to the 434 identified victims remains unclear.

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2025-07-02
02:50
DOJ's Record $225M USDT Seizure From Pig Butchering Scam Highlights Enforcement Strategy and Real-World Impact

According to @FoxNews, the U.S. Department of Justice (DOJ) has initiated a civil forfeiture action to seize over $225 million in USDT linked to a sophisticated 'pig butchering' scam. Former Acting U.S. Attorney Phil Selden described this as a 'tone-setting case,' emphasizing the DOJ's proactive stance in seizing stolen crypto assets to protect victims even before making arrests. The investigation, which received key assistance from the crypto exchange OKX, uncovered a complex laundering network that processed approximately $3 billion in transaction volume. This particular scam had severe real-world consequences, leading to the 2023 collapse of Heartland Tri-State Bank after its CEO embezzled $47.1 million and sent the funds to the scammers. The seized USDT will likely be added to a strategic U.S. government cryptocurrency stockpile, a move that could have long-term implications for the market.

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2025-07-02
01:50
DOJ Seizes $225 Million in USDT Linked to 'Pig Butchering' Scam That Caused Kansas Bank Collapse

According to Fox News, the U.S. Department of Justice (DOJ) has initiated a civil forfeiture action to seize over $225 million in Tether (USDT) tied to a sophisticated 'pig butchering' scam. The operation, which involved laundering funds through the crypto exchange OKX, is directly linked to the 2023 collapse of Heartland Tri-State Bank, as its former CEO embezzled $47.1 million and lost a significant portion to the scammers, according to the complaint. The DOJ report states that OKX provided key information to help trace the funds, which were moved through hundreds of intermediary wallets and accounts. For traders, this large-scale seizure highlights increasing regulatory and law enforcement capabilities in the crypto space. The seized USDT will likely be added to a U.S. government crypto stockpile, a factor that could influence long-term market supply and regulatory perspectives on stablecoins.

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2025-07-01
08:20
DOJ Seizes $225 Million in USDT from Massive 'Pig Butchering' Crypto Scam Linked to Bank Collapse

According to @FoxNews, the U.S. Department of Justice has filed a civil forfeiture action to seize over $225 million in Tether (USDT) linked to a sophisticated 'pig butchering' money laundering scheme. The investigation, which received key assistance from the crypto exchange OKX, uncovered a network that processed approximately $3 billion in transactions, according to the DOJ complaint. The scam is tied to the collapse of Heartland Tri-State Bank, as its former CEO embezzled $47 million and lost a portion of it to the scammers, a DOJ complaint revealed. The complaint details how funds were laundered through a complex web of over 100 intermediary wallets and more than 200 accounts on OKX. For traders, this large-scale seizure of USDT highlights ongoing regulatory enforcement risks and demonstrates how exchanges are collaborating with authorities. The seized assets are likely to be added to a U.S. government crypto stockpile, which could have long-term market implications depending on how the holdings are managed.

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2025-06-23
15:30
DOJ Links Kansas Bank Collapse to Record $225M USDT Seizure: Crypto Laundering Crackdown Impacts USDT Markets

According to the U.S. Department of Justice (DOJ), the collapse of Heartland Tri-State Bank in Kansas was directly tied to a large-scale 'pig butchering' crypto scam involving over $225 million in laundered USDT. The DOJ's civil forfeiture action targets laundered USDT linked to a Philippines-based scam network that exploited the former bank CEO, Shan Hanes. Crypto exchange OKX provided critical intelligence, helping trace the movement of funds through at least 93 scam addresses and 100 intermediary wallets before consolidation into OKX accounts. The DOJ identified $3.3 million of the $47 million Hanes embezzled, highlighting ongoing risks associated with USDT in criminal activity and the importance of compliance and transparency for exchanges. Traders should note that increased scrutiny on USDT-related transactions and future government actions to stockpile seized digital assets could impact USDT market liquidity and trading sentiment, especially as USDT remains a top stablecoin in crypto trading pairs. (Sources: DOJ complaint, CNBC, OKX disclosures)

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2025-06-18
16:57
Tether (USDT) Acknowledged by DOJ for Role in $225M Crypto Fraud Seizure: Impact on Stablecoin Markets

According to @paoloardoino, Tether (USDT) has been officially recognized by the U.S. Department of Justice (DOJ) for its assistance in the seizure of $225 million connected to a major pig butchering fraud scheme (source: tether.io/news/tether-ac…). This move demonstrates Tether’s commitment to compliance and risk management, signaling increased regulatory scrutiny for stablecoins. For crypto traders, this development may strengthen market confidence in USDT and other stablecoins, as transparent enforcement actions could reduce illicit activity and support broader crypto adoption (source: DOJ announcement, June 18, 2025).

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