The US Department of Justice will return about $470,735 to two victims in Maine after federal authorities recovered part of the money lost in a cryptocurrency investment scam.
According to the US Attorney’s Office for the District of Maine, the victims transferred more than $800,000 to cryptocurrency wallets controlled by criminal actors in 2022. After tracing the transactions, the FBI seized 470,773 USDT, also known as Tether, that was linked to the victims’ payments.
The US Attorney’s Office said the seized assets were identified as proceeds traceable to wire fraud and as funds involved in money laundering offenses. Prosecutors then filed a civil forfeiture complaint in federal court to take control of the recovered funds through legal process.
A US District Court later ordered the proceeds to be forfeited to the United States. That ruling cleared the way for the Department of Justice to return about $470,735 to the two victims in Maine. The recovered amount remains below the more than $800,000 the victims originally lost.
The seized funds were held at 470,773 USDT. Tether is a dollar-pegged stablecoin that is widely used in digital asset transfers. In the official release, the department said it “will return about $470,735 to two Maine victims of a cryptocurrency investment scheme.”
Federal authorities said the victims sent money to cryptocurrency wallets controlled by scammers in 2022. Investigators later traced part of those transfers and identified digital assets connected to the fraudulent scheme. That tracing work allowed the FBI to seize the crypto and support the forfeiture case.
The Justice Department said the FBI led the investigation. Federal prosecutors then handled the legal action that followed. Once the court approved the forfeiture, the recovered money could be returned to the victims through the Justice Department process.
The department also acknowledged assistance from Tether. Officials said the company helped facilitate the transfer of the seized funds. That step supported the return of the recovered assets after the court proceedings were completed.
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The US Attorney’s Office said cryptocurrency investment scams often begin with social engineering. Scammers may contact targets through social media, messaging apps, dating apps, or other online platforms. In some cases, they pretend they reached the wrong person and then keep the conversation going.
Authorities said fraudsters often spend days, weeks, or months building trust. After that, they introduce a fake investment opportunity and direct victims to false crypto platforms or apps. Those platforms may show fake profits to make the scheme appear real.
When victims try to withdraw money, scammers often demand extra payments presented as fees or taxes. Even after those payments are made, the funds are not released. The Justice Department urged anyone who suspects this type of fraud to report it to law enforcement, the FBI, or the Internet Crime Complaint Center.