US Government Moves $225 Million USDT Linked to Fraud Case

Blockchain monitoring platform Lookonchain reports the transfer of over 225 million USDT connected to a 'pig-butchering' scam.

USDT

Summary

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Terms & Concepts
  • USDT (Tether): A stablecoin pegged to the US dollar, widely used for trading and transfers in the cryptocurrency market.
  • Pig-butchering scam: A type of online fraud where victims are groomed over time before being tricked into making large financial transfers.
  • Lookonchain: A blockchain analytics platform that tracks and reports on cryptocurrency transactions.