U.S. Justice Department pursues $12 million recovery in USDT related to cryptocurrency scam

The U.S. Department of Justice filed a complaint to recover over 12 million USD in Tether’s USDT linked to an investment fraud. Victims were misled through unsolicited text messages into fake investment accounts on a fraudulent trading platform named ShakepayEX.

Civil forfeiture is increasingly utilized by U.S. Authorities to recover funds and disrupt crypto scams. This method allows prosecutors to reclaim assets before they become hard to trace, offering a crucial tool in protecting victims and addressing illicit activities.