The post DOJ Seizes $9 Million in Tether Linked to Romance Scam! appeared first on Coinpedia Fintech News

The US Department of Justice has announced the seizure of $9 million worth of Tether, a cryptocurrency linked to the US dollar, as part of an investigation into an organization accused of exploiting over 70 victims through romance and cryptocurrency confidence scams. The funds were traced to cryptocurrency addresses allegedly linked to the scam, with the department stating that the seizure would bring some closure to the victims affected. The department also warned that cybercriminals should not view the cryptocurrency ecosystem as an ideal way to launder ill-gotten gains, as law enforcement will continue to develop the expertise needed to follow the money and seize it back for victims. The US Secret Service investigated the case, with the department acknowledging Tether’s assistance in transferring the assets.