The world of cryptocurrency has grow to be a fertile floor for classy scams – together with the so-called pig butchering scheme, which is among the many most insidious and financially devastating. Nonetheless, a latest operation, introduced in June, led by the US Secret Service and ensuing within the seizure of over USD 225 million in cryptocurrency, marks a big turning level within the world struggle in opposition to these elaborate legal enterprises.
This landmark seizure of cryptocurrency, the most important within the US Secret Service’s historical past, not solely represents a large monetary blow to scammers but additionally highlights the essential position of collaboration between legislation enforcement and the crypto business.
On this article, revealed in Law360, David Zaslowsky explains the rip-off, in addition to the probably ramifications from this historic seizure.
