CHICAGO, Monday, March 18, 2024 – In a court-authorized seizure, the U.S. Attorney’s Office in Chicago has recovered approximately $1.4 million worth of Tether (USDT), a cryptocurrency pegged to the U.S. dollar, from five Ethereum addresses. 1
The funds are suspected to be proceeds from a tech support scam targeting individuals across the United States. 1
The Federal Bureau of Investigation (FBI) identified the cryptocurrency addresses used by the perpetrators and obtained a court order to seize the suspected fraud proceeds.
These funds will be returned to the victims of the scam, the press release stated.
“This case demonstrates our commitment to holding cybercriminals accountable and recovering stolen funds for victims,” said Morris Pasqual, Acting U.S. Attorney for the Northern District of Illinois, in the press release. 2
“We will continue to work with our law enforcement partners to investigate and prosecute these scams.”
According to the affidavit filed for the seizure warrant, the FBI believes the funds were transferred in relatively small batches and routed through intermediary addresses, possibly in an attempt to launder the money.
Cryptocurrency firm Tether also collaborated with the US Department of Justice and FBI.
“This seizure marks a significant milestone in upholding integrity within the cryptocurrency ecosystem,” stated Tether CEO Paolo Ardoino. 3
- Tech Scammers: https://www.justice.gov/usao-ndil/media/1341836/dl?inline[↩][↩]
- Tech Scammers: https://www.justice.gov/usao-ndil/pr/united-states-seizes-14-million-cryptocurrency-linked-alleged-tech-support-scam[↩]
- Tech Scammers: https://tether.to/en/tether-assists-us-government-in-seizure-of-illicit-funds-linked-to-tech-scam/[↩]
