US seeking to forfeit $2.5m for pig-butchering scam victims: ‘we will find them’

US prosecutors are seeking to seize $2.5 million worth of cryptocurrency from an international “pig slaughter” scam targeting American victims.

The U.S. Attorney’s Office for the District of Columbia has initiated a civil forfeiture proceeding to recover 2,546,415.01 USDT seized by the FBI from foreign perpetrators of a cryptocurrency scam known as “pig slaughter.”

The scammer is said to be based in Thailand and has two accounts holding all the USDT in question. The FBI and the Royal Thai Police are supporting the seizure.

Pig slaughter scam

Romance scams, often referred to as pig slaughter scams, involve scammers befriending victims under the pretense of a potential love interest.

Scammers gain the trust of their victims and convince them to invest heavily in seemingly lucrative schemes. Once convinced, the victim is convinced to invest in what appears to be a promising cryptocurrency opportunity.

However, the scammer has no intention of making any return and disappears with the money once the victim has transferred it. These schemes usually involve constant pressure on the victim to deposit more money before the scammers disappear.

Lawyer thoughts

“We will find them, we will seize their illicit profits, and we will return the money to the victims,” U.S. Attorney Matthew M. Graves said, emphasizing the office’s commitment to holding criminal organizations accountable.

FBI Special Agent Stacey Moy condemned the increasing use of these types of elaborate scams and highlighted the FBI’s ongoing efforts to dismantle these criminal networks.

“The rate at which malicious actors use sophisticated hog slaughter scams to defraud innocent people is disgusting,” said FBI Special Agent Moy.

The forfeiture action, led by Assistant U.S. Attorney Rick Blaylock, Jr., seeks to punish and deter criminal activity by depriving offenders of their ill-gotten property. It also seeks to recover assets to reimburse victims when authorized by federal law.