Coinbase and the U.S. Secret Service conducted a joint investigation that led to the recovery of $225 million lost to pig butchering scams.
Joint Investigation and Fund Recovery
The U.S. Secret Service seized $225 million in USDT related to pig butchering scams, marking the largest cryptocurrency seizure linked to investment fraud. The operation involved confiscating 39 wallet addresses tied to the stolen funds.
Victim Restitution Process
The Secret Service has initiated a public campaign to return funds to scam victims through the FBI Internet Crime Complaint Center. Victims must provide proof of transfers to scam-related wallets, primarily from their cryptocurrency platforms. Coinbase published guidance to help customers access their transaction history.
Expansion of Law Enforcement Operations
The seizure is part of broader U.S. government efforts targeting cryptocurrency-enabled criminal networks. In June 2025, authorities also shut down 145 domains associated with the BidenCash market and redirected seized domains to government-controlled servers.
The efforts of Coinbase and the U.S. Secret Service highlight the importance of client protection and active measures against cryptocurrency fraud.
