US prosecutors to return $470K in seized USDT to fraud victims

The U.S. Department of Justice (DOJ) is set to return approximately $470,000 in Tether (USDT) to the victims of a cryptocurrency investment scam, The Daily Hodl reported. The funds were seized during an investigation by the Federal Bureau of Investigation (FBI). According to the report, two victims were defrauded of over $800,000 in 2022 after being tricked into sending their cryptocurrency to a scammer. The FBI subsequently tracked and seized about $477,000 in USDT, which was identified as criminal proceeds linked to money laundering. A federal court has approved the forfeiture of the funds, and the recovered assets are now scheduled to be returned to the victims.