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.

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.

According to @FoxNews, the U.S. Department of Justice (DOJ) has seized over $225 million in Tether (USDT) connected to a massive 'pig butchering' crypto scam. The operation is directly linked to the 2023 collapse of Heartland Tri-State Bank, whose former CEO embezzled $47 million and lost a portion to the scammers, as detailed in the DOJ complaint. The crypto exchange OKX played a key role by providing information that helped investigators trace the laundered funds through a complex network of over 100 intermediary wallets and hundreds of OKX accounts. The seized USDT will likely be added to a future U.S. government crypto stockpile, a development traders should monitor for potential long-term market impacts.

According to Crypto Rover, the U.S. Justice Department has seized $201,000 in cryptocurrency from wallets linked to Hamas, aiming to disrupt terror financing activities. This action underlines the increasing scrutiny of crypto transactions by authorities, potentially impacting market sentiment and regulatory measures. Traders should consider the implications of heightened regulatory enforcement on crypto asset liquidity and market dynamics.