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Coinbase played a major role in one of the largest crypto seizures in American history of law enforcement, which helps the secret service to recover $ 225 million In USDT, he stolen through fraud with cut pigs that destroyed hundreds of victims around the world.
Landmark operationwhich began at the end of 2023, culminated in a multi -day “examination sprint” where he was freezing at the end of 2023 Coinbase Analysts have worked with secret service agents to monitor millions in crypto transactions back to illegal wallets and identify more than 130 customers.
Successful cooperation represents a milestone in the fight against sophisticated international fraud, that cost US victims over $ 9.3 billion in 2024.
The secret service watched the frozen USDT on 140 OKX accounts, many of them held in the names of victims of trading in people who forced participation in fraudulent operations under the threat of violence.
Robble Romance: Inside $ 225 million inside
TheseButchering“The schemes usually begin with false romantic or business relations cultivated over months before manipulating victims into the transfer of life savings to a crypt of wallet controlled by criminal syndicates.
These operations usually come from additional casinos and hotels in Southeast Asia, especially in areas controlled by groups as Recently approved National Army Karen (KNA)which the US cash register has determined as a multinational criminal organization for facilitating huge criminal ecosystems.
@Ustreasury Sanctions Karen National Army and leaders for organizing Billion Dollars and People Trading Network, focus on multinational computer crime and protect victims around the world.#Cybercrime #Cryptoscamshttps://t.co/ztl5ivgalx
– Cryptonews.com (@cryptonews) May 5, 2025
The KNA territory in Karen in Burma serves as a center where traded individuals are forced to work in fraudulent compounds, create false online identities and pose as romantic interests or financial advisors to attract US victims into investment programs.
The victims are gradually introduced into false trading platforms that show produced profits designed to support larger investments.
Fraudsters often provide small initial returns to create credibility before asking for essential transfers that disappear as soon as emotional and financial hooks are deeply set up.
The global scope of these operations is manifested by statistics that show losses from the butcher shop, which escalated from $ 2 billion in $ 2022 to $ 3.5 billion in 2023, describing another record year at $ 3.6 billion, according to Web3 Security Companies Cyvers.
The criminal infrastructure supporting these fraud reveals a surprising organizational complexity.
Telegram closes the Huione Crypto SCAM market on the market of $ 27 billion, but rivals 400% volume, because the criminal networks quickly migrate to successor platforms, such as a guarantee.#Telegram #Cryptoscamhttps://t.co/xjpxgw5sso
– Cryptonews.com (@cryptonews) June 24, 2025
There is Recently dismantled Group HuioneThe primary network for money washing, which processes billions in a stolen cryptocurrency while maintaining a connection with North Korean hackers and regional syndicates of crime.
The Blockchain Forensic Revolution Revolution brings justice through transparency
Coinbase forensic abilities allowed investigators to trace comprehensive transactions connecting stolen funds through multiple wallets.
The technical process of the fund’s recovery also included direct cooperation between TheTher and the enforcement of law. Stablecoin emitent burned the original $ 225 million in a frozen USDT and re -released equivalent chips to the secret wallet of a controlled service distribution.
This “burn and reissue” mechanism provided transparency in real time visible on the chain. Cooperation has also expanded for Coinbase OKX and other unnamed exchange.
@Dojcrimdiv It gets rid of $ 225.3 million in Tether’s USDT – the highest cryptvomozer linked to fraud with carcarving – Funds watched via OKX in a network of global fraud.#Cryptophraud #Usdthttps://t.co/0Q6GUI99SZ
– Cryptonews.com (@cryptonews) June 18, 2025
Efforts to cooperate began the process of restitution of victims through the Center for Complaints about the FBI Internet Complaints. Disabled individuals can claim Using the reference code “BT06182025” and the history of transactions proving that they have sent funds related to fraud addresses.
While the achievements in the enforcement area show significant progress in the fight against cryptomic crime, investors must acknowledge that personal vigilance and security proven procedures remain the most effective defense.
Navin Gupta, CEO of Blockchain Analytics Company Crystal, Cryptonews recently said that“Suppose any junk message is a potential attack.” He noted that this mental shift could filter 80% of threat vectors.
How do cheaters steal billions in the crypt? We sat down with @Crystalplatform CEO Navin Gupta, when he breaks down psychology, tactics driven by AI and shift thinking no. 1 that could prevent most fraud.#Cryptoscam #Deepfakehttps://t.co/9WQVGSUED
– Cryptonews.com (@cryptonews) June 24, 2025
The unique characteristics of the crypto space, including the irreversible transaction and the absence of traditional financial intermediaries, require fundamentally different security thinking from users.
Investors should implement hardware security keys instead of two-factor verification based on SMS, create separate devices and e-mail addresses for financial operations, and practice deliberate verification of urgent or exclusive investment opportunities.
Most importantly, the speed of crypto transactions means that it is rarely time for a second chance. A few minutes spent by verifying the suspicious application could prevent the savings of life on loss of life that would not guarantee any recovery efforts in the area of enforcement.
Contribution Teams Coinbase with the US Secret Service for massive USDT seizure USD 225 million in pig butcher shop He appeared for the first time Cryptonews.
