Other [loss] $225M+

"Following Investigations by Tether, OKX, and the U.S. Department of Justice, Tether Voluntarily Freezes 225M in Stolen USDT Linked to International Crime Syndicate"

2023-11-20 [vendor] Crypto romance
Primary Source ↗
Financial Loss $225.0M (225,000,000 USD)

Incident Details

At least according to the rather shady Tether stablecoin provider, the U.S. Department of Justice has been working on an investigation into a massive “pig butchering” romance scam and human trafficking operation based out of Southeast Asia.According to Tether, they “voluntarily fr[oze] approximately 225 million in USDT tokens” in connection to the investigation.Some romance scammers hoping to lure victims into sending them cryptocurrencies are themselves victims of human trafficking operations, where they are held victim and forced to send such messages.

Total loss estimated at $225,000,000.

Technical Details

Vendor / Product
Crypto romance

Timeline

  1. 2023-11-20 Breach occurred
  2. 2023-11-20 Publicly disclosed