The American crypto fair Coinbase played an important role in the seizure of 225 million dollars in stolen crypto currency. The American secret service calls it the greatest crypto-in-order in its history.
These are funds that probably come from an international scam network, which was active with, among other things, so -called ‘pig Butching’ scams where victims were misled through romantic contacts.
US state received help from Coinbase and Tether
The case has been running since 2023. In that year, Tether, publisher of the largest Stablecoin in the world, froze around 225 million dollars in USDT that were stored in self -managed wallets. Those wallets would be connected to a group involved in human trafficking and digital fraud.
Coinbase helped the authorities, among other things, analyzing transactions on the blockchain. According to the company, employees followed digital money flows for several days up to their own platform. In this way, victims could be identified who may be entitled to compensation.
“This promotion builds on our commitment to make the crypto sector safer,” Tether said in a statement. Tether was also praised by the US Department of Justice for the rapid cooperation.
The American secret service, the FBI and the Public Prosecution Service worked together on this promotion. Victims can report to the Internet Crime Complaint Center of the FBI.
Tether says it has now frozen more than 2.7 billion dollars in USDT due to criminal activities. The company emphasizes that it wants to contribute to more transparency and cooperation with supervisors worldwide.
Source: https://newsbit.nl/coinbase-helpt-amerikaanse-autoriteiten-bij-recordvangst-van-gestolen-cryptovaluta/
