Coinbase Assisted Authorities in $225 Million Cryptocurrency Seizure United States authorities, with the assistance of cryptocurrency exchange Coinbase, have seized $225 million worth of digital assets allegedly stolen through "pig butchering" investment scams, announced the U.S. Department of Justice on June 25, 2025. This seizure represents the
The Australian Securities and Investments Commission (ASIC) announced on April 8, 2025, that it had obtained court orders to shut down 95 companies involved in "pig butchering" crypto scams that defrauded investors of AU$439 million. The targeted companies were part of a sophisticated "Hydra" network
The FBI has successfully recovered $8.2 million from a cryptocurrency scam that precipitated the collapse of Heartland Tri-State Bank in Elkhart, Kansas. Nearly a year after the fraud was exposed in 2024, the funds were returned to local shareholders. The bank’s former CEO, Shan Hanes, was sentenced to
According to the latest report from Chainalysis, revenue from cryptocurrency scams is projected to hit an all-time high in 2024, driven primarily by so-called "pig butchering" scams and the increasing use of artificial intelligence. The blockchain analytics firm estimates in its published report that wallets linked to cryptocurrency
