According to court documents, the virtual currency accounts in Los Angeles and elsewhere were used to launder proceeds of various cryptocurrency confidence. In these schemes, fraudsters cultivated long-term, online relationships with victims, eventually enticing them to make investments in fraudulent cryptocurrency trading platforms.
"The victims in Pig Butchering schemes are referred to as `pigs' by the scammers because the scammers will use elaborate storylines to `fatten up' victims into believing they are in a romantic or otherwise close personal relationship," according to an affidavit in support of the Los Angeles seizure warrant. "Once the victim places enough trust in the scammer, the scammer brings the victim into a cryptocurrency investment scheme.
Authorities executed the Los Angeles seizure warrant in December and received the last transfer of cryptocurrency on March 21. The affidavit in the Los Angeles seizure warrant discussed a series of cryptocurrency investment scams, one of which targeted a woman who was contacted on LinkedIn by a man who used the name "Fei Kuang."
How do they seize cryptocurrency when it's a electronic currency?
Zooloo_Trojan
All those people trying to get you to send them $800 to invest 🤦🏻♀️ Can’t believe so many people fell for these scams
How do you seize something that’s not real❓❓❓
How do you confiscate what isn’t real❓ I don’t know who came up with fake internet money, but he or she should get a prize for the biggest world Wide Rip Off in history ‼️‼️‼️‼️‼️‼️