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US Prosecutors Recover Nearly $1.7 Million in Cryptocurrency Investment Scam Funds Through Civil Asset Forfeiture Procedure
Summary: According to reports, the US Department of Justice website revealed that the US Attorney's Office for the Eastern District of Virginia successfully recovered 420,740.422314 USDT and 1,249,996.15 BUSD, totaling nearly $1.7 million, through a civil asset forfeiture procedure. These funds were derived from cryptocurrency investment scam profits and money laundering activities, and are currently being ...
According to reports, the US Department of Justice website revealed that the US Attorney's Office for the Eastern District of Virginia successfully recovered 420,740.422314 USDT and 1,249,996.15 BUSD, totaling nearly $1.7 million, through a civil asset forfeiture procedure. These funds were derived from cryptocurrency investment scam profits and money laundering activities, and are currently being returned to the victims.
Court documents show that scammers contacted victims through text messages and social media, posing as accidental contacts and luring victims to switch to encrypted chat applications. The scammers then gained the victims' trust and encouraged them to 'invest' in cryptocurrency on a fake investment website. The website mimicked legitimate cryptocurrency investment platforms, but actually transferred the victims' funds to the scammers.
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Link: US Prosecutors Recover Nearly $1.7 Million in Cryptocurrency Investment Scam Funds Through Civil Asset Forfeiture Procedure [Copy]
