US Moves to Seize $3.44M USDT Tied to Crypto Investment Scam

• The investigation started in late 2024 after around four people reported losses, comprising two residents of Massachusetts and others in Utah and South Carolina. 
• The officials from the US have lately captured more crypto associated with fraud schemes. 

The federal prosecutors of the United States have filed a civil forfeiture action to recoup around 3.44 million USDt associated with a claimed online crypto investment scam that targeted victims across various states. 

As per the March 10 announcement from the US Attorney’s Office in Boston, the funds were associated with a scheme that convinced victims to send cryptocurrency to wallets managed by scammers. 

Officials mentioned that they captured the USDt in February and March 2025 and are now asking a court to permit the permanent forfeiture of the assets. The prosecutors mentioned that in a fraud scheme like this, scammers get funds from victims using manipulative tactics. 

It also added that they set up a level of trust with a victim and then lure the victim into investing in a fraudulent investment scheme. The investigation started in late 2024 after around four people reported losses, comprising two residents of Massachusetts and others in Utah and South Carolina. 

Performing Scam after Gaining Trust 

In this situation, the scammers first had a word with victims via messages that appeared to be sent by mistake, mostly via text messages or encrypted apps like WhatsApp and Telegram. 

After making trust, the individuals allegedly pushed what they referred to as an exclusive Ethereum investment opportunity supported by physical gold. Victims are asked to buy Ether (ETH) and send it to wallets given by the perpetrators. 

As per the release, court documents state that once the ETH reached those wallets, the funds were directed via intermediary addresses, changed intoUSDt, and shifted to unhosted wallets handled by the scammers. 

The officials from the US have lately captured more crypto associated with fraud schemes. In one case, the US Attorney’s Office for Massachusetts filed a civil forfeiture action looking to recover around $327,829 in USDt, which the investigator mentioned was associated with a romance scam targeting a Massachusetts resident in 2024. 

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