$6M Worth of Crypto Seized

Hi frens..

According to a report, FBI has seized $6 million worth of crypto from scammers. Their wallets were connected to Southeast Asia who were targeting citizens of the United States with confidence investment schemes.

According to a report on 26th September from the United States' Attorney Office for District Columbia the scam saw one or more individuals losing millions of dollars after being cheated making them to believe they were investing in legitimate crypto enterprises.

The stolen funds on the blockchain were traced by the FBI locating several cryptocurrency wallets associated to the scam which still held over $6 million of digital assets stolen from victims.

According to Tether, it helped the authorities by freezing wallets of the scammers helping in the quick recovery of the stolen crypto.

The FBI's annual report on cryptocurrency fraud for 2023 states that investment schemes accounted for about 71% of the cryptocurrency fraud that was reported to the Internet Crime Complaint Center (IC3).

The most reported crypto scam was the investment fraud and experienced the most reported losses with over 3.6 billion dollars stolen by scammers.

complaints from over 200 countries are recieved, said by the FBI in the report but most of the losses and complaints were from the United States.

@hivepulse

Image Source : Binance