Today’s #GoodGuysPrevail Update…

Earlier this week, the U.S. Department of Justice announced the seizure of $112M USD linked to criminal scams known in the #crypto community as “pig butchering”. These scams are particularly odious, as they involve not just fraud but the long-term manipulation of victims prior to the fraud discovery. These incidents often go un-reported because of this dynamic.

The seizure warrants were issued in three states against #virtualcurrency accounts, used to launder the proceeds of a variety of #cryptocurrency scams. These seizures are quite welcome, but they represent a small percentage of the overall #investmentfraud reported in 2022 – estimated to exceed $3.3B USD in that year alone.

Kudos to the coordinated #lawenforcement efforts of the DoJ’s National Cryptocurrency Enforcement Team (NCET) and the Federal Bureau of Investigation (FBI) for this historic recovery effort.

#ruleoflaw #AisA #cryptoscams #cybercrime #digitalforensics #forensicinvestigation #assettracing #assetrecovery #criminaljustice #digitalassetrecovery #cyberincidents #pigbutchering #digitalassettracing