Coinbase Assists Secret Service in One of the Largest Crypto Scam Crackdowns Ever
US-based cryptocurrency exchange Coinbase has revealed that it assisted the U.S. Secret Service (USSS) in recovering roughly $225 million worth of Tether (USDT) stolen via the so-called “pig butchering” crypto scams.
Scammers typically lure potential victims by pretending that they are willing to start a romantic or business relationship. After some time, they eventually convince their potential victims to invest in fraudulent crypto projects. Expectedly, bad actors end up cutting contact as soon as enough money gets squeezed out of the victim.
In late 2023, the stablecoin giant froze a total of 39 wallets connected to such scams.
Coinbase…
