DOJ seeks forfeiture of $65K in USDC tied to crypto investment scam

The U.S. Department of Justice has filed a civil forfeiture complaint to recover about $65,000 in USDC tied to a cryptocurrency investment scam, The Block reported. The case involves a scammer posing as a financial adviser who persuaded a victim to move retirement funds to Coinbase, then used remote access to the victim’s laptop to transfer the money to the scammer’s crypto wallet in about 60 transactions. The victim is believed to have lost about $200,000. Circle froze the traced USDC, and the U.S. government is pursuing procedures to return the assets.