The U.S. Department of Justice (DOJ) seized more than $61 million in Tether (USDT) on February 24, 2026, targeting funds tied to “pig butchering” cryptocurrency scams. This operation, spearheaded by the U.S. Attorney’s Office for the Eastern District of North Carolina and Homeland Security Investigations (HSI), marks one of the largest seizures of its kind in the region.

Fast Facts on the Seizure:

• The Takedown: Federal agents used blockchain tracing to follow stolen funds through “layered” wallets.
• Corporate Cooperation: The stablecoin issuer, Tether, assisted by freezing the targeted digital wallets and transferring the assets to government custody.
• The Scheme: Fraudsters used social media and dating apps to build fake relationships (“fattening the pig”) before luring victims into investing in fraudulent crypto platforms.

Authorities emphasize that these scams often appear highly professional, featuring fake dashboards that show artificial gains to encourage larger deposits.