$66.4 Million in Cryptocurrency Seized by Feds in LA: Pig Butchering Scam Uncovered

Federal prosecutors in Los Angeles have reportedly confiscated virtual currencies worth $66.4 million. The seized assets are allegedly related to a “pig butchering” investment scam. This massive seizure highlights the growing efforts of law enforcement to combat cryptocurrency-related fraud.

In the Los Angeles matter, a United States magistrate judge authorized the seizure of an account containing approximately $66.4 million in various cryptocurrencies after Federal prosecutors in Los Angeles have reportedly confiscated virtual currencies worth $66.4 million. The seized assets are allegedly related to cryptocurrency investment scams commonly perpetrated through sophisticated online schemes.

LOS ANGELES, CA – Federal prosecutors in Los Angeles have seized virtual currency worth $66.4 million linked to cryptocurrency investment scams commonly called "pig butchering," a technique where victims are slowly enticed into fraudulent investments.

Feds in LA seized $66.4 million in cryptocurrency (some sources claim $66.5 million, however official documents cite $66.4 million) which were all linked to an investment scam commonly called "pig butchering." This recent action sends a strong message to cybercriminals operating in the cryptocurrency space.

This seizure of $66.4 million in cryptocurrency in Los Angeles is a major blow to perpetrators of "pig butchering" scams. Stay vigilant and be wary of unsolicited investment opportunities, especially those promising guaranteed high returns in cryptocurrency.