Scammers posing as President Trump and Vice President JD Vance’s inaugural committee swindled over $250,000 from unsuspecting victims, according to federal prosecutors.
The Scam
The con artists used fake email addresses to impersonate co-chair Steve Witkoff, tricking people into sending them money. Prosecutors are taking action to recover the stolen funds and punish the perpetrators. The government’s aim is to seize the ill-gotten gains and deter future crimes.
Cryptocurrency Confiscation
Part of the stolen money, $40,000 in USDT (a cryptocurrency), is being targeted for seizure. Half of this amount has already been recovered from a Binance account linked to someone in Nigeria.
The Secret Service Fights Back
The U.S. Secret Service is stepping up its fight against cryptocurrency scams. A new team dedicated to digital financial crimes is using advanced technology and investigative techniques to track down and prosecute criminals involved in crypto fraud, including schemes known as “pig butchering” scams that lure victims with fake investment opportunities. The Secret Service’s efforts have already resulted in the recovery of nearly $400 million in digital assets over the past decade. They’ve been involved in major cryptocurrency crackdowns for years, establishing themselves as a significant player in the global fight against digital currency crime.