North Carolina DOJ Seizes $61 Million in USDT Tied to Pig Butchering Scam

The U.S. Attorney’s Office for the Eastern District of North Carolina seized more than $61 million in Tether (USDT) linked to money laundering from crypto “pig butchering” investment scams.

Why it matters:

• Victims of pig butchering scams lose funds to fraudulent platforms showing fake returns, then face demands for “taxes” or “fees” to withdraw. This is a cycle designed to repeatedly extract money.
• The $61 million seizure ranks among the largest single USDT confiscations tied to romance-based crypto fraud in U.S. history.
• The case signals direct DOJ and Homeland Security Investigations (HSI) coordination with Tether to freeze and transfer illicit stablecoin holdings.

The details:

• The U.S. Attorney’s Office for the Eastern District of North Carolina announced the seizure, with the DOJ and HSI leading the operation.
• Investigators traced the USDT to wallet addresses linked to money laundering tied to crypto investment fraud.
• Pig butchering scams involve criminals building fake romantic relationships online before steering victims toward fraudulent trading platforms.
• Tether assisted the DOJ and HSI in facilitating the transfer of the $61 million in seized assets.

The big picture: