FBI Moves to Return $8.2M in Seized Crypto to Fraud Victims
Federal law enforcement is trying to return $8.2 million in cryptocurrency to victims of an investment scam.
The United States Attorney’s Office for the Northern District of Ohio filed a civil forfeiture complaint to legally return 8,207,578 tether (USDT) seized in an FBI-led investigation.
Amount Seized: $8.2 million in USDT
Agency: FBI’s Cleveland Division
Victims: Several across multiple states
Additional Losses: Over $1 million under review
The Department of Justice (DOJ) announced the complaint on February 28. The focus is on recovering stolen assets and delivering justice to investors.
fbi returning $8.2m in seized crypto to fraud victims. funds taken from scammers who used fake platforms to trick investors.
— aixtn (@ai_xtn) March 7, 2025
How the Crypto Fraud Scheme Worked
Investigators found the scam started with deceptive text messages from fraudsters posing as contacts. Victims were lured into investing in fake cryptocurrency platforms, with criminals promising big returns.
One case involved a woman from Lake County, Ohio, who lost $663,352—her entire life savings. She was convinced to open an account on Crypto.com | Securely Buy, Sell & Trade Bitcoin, Ethereum and 400+ Altcoins and send funds to what she thought was a legit investment opportunity.
They demanded fake tax payments before she could withdraw.
Threats were made against her family when she questioned the process.
She realized it was a scam and filed a report with the FBI’s Internet Crime Complaint Center (IC3).
Through blockchain analysis, they traced some of the stolen funds to three cryptocurrency addresses and seized USDT tokens in November 2024. The FBI, with help from Tether Limited, put the assets in a law enforcement controlled wallet.
Legal Steps and Next Actions
The DOJ filed the complaint on February 27 to get court approval to return the assets to victims. While the process is ongoing, they say returning funds is the end goal.
Legal Status: The complaint must be proven in court.
Government’s Argument: The seized assets were proceeds of financial crimes.
Next Step: Identifying and compensating additional victims.
The case highlights growing law enforcement efforts to combat crypto-related fraud, offering hope for those affected while reinforcing government oversight of digital asset crimes.
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