US authorities returning $8.2M in crypto from scam to victims, identifying 33 victims

From Cointelegraph

March 2, 2025 9:10:54 pm:

US authorities aim to return $8.2 million in crypto to victims of a scam involving fake messages and a phony investment scheme. The FBI identified 33 victims with $6 million in losses, frozen in Tether. Investigators found funds converted and transferred to three addresses, leading to a federal seizure warrant.

Acting US Attorney for Ohio Carol Skutnik and assistant US Attorney James Morford filed a forfeiture complaint to return the $8.2 million to victims. Scammers used misdirected messages to gain trust, promoting fraudulent crypto investments. Victims were guided to fake sites to transfer funds, resulting in significant financial losses.

A blockchain analysis firm warns that generative AI is fueling more scalable crypto scams, potentially leading to record losses in 2025. Meanwhile, pig butchering scams pose a significant threat to investors, with billions in losses across 200,000 cases in 2024. Elon Musk’s proposal to run the government on blockchain faces challenges.

Read more at Cointelegraph: US authorities to return $8.2M seized from crypto ‘wrong number’ scammers to victims