The United States Attorney’s Office for the District of Maine announced on Mar. 13 that the Department of Justice will return approximately $470,735 to two Maine residents who were victims of a cryptocurrency investment scheme.
The restitution follows an investigation in which more than $800,000 belonging to the victims was transferred in 2022 to cryptocurrency wallets controlled by criminal actors. The FBI seized 470,773 USDT (Tether), a form of cryptocurrency pegged to the U.S. dollar, after tracing it back to payments made by the victims. A civil forfeiture complaint filed by the U.S. Attorney’s Office alleged that these funds were linked to wire fraud and money laundering offenses. The U.S. District Court ordered the proceeds forfeited to the United States, enabling their return to the victims.
The U.S. Attorney’s Office cautioned that such cryptocurrency investment schemes are common and often involve scammers using social engineering tactics. According to court records, scammers may contact potential victims through messaging apps or social media using fake identities and build trust over time before introducing fraudulent investment opportunities or emergencies requiring payment in cryptocurrency.
Victims are sometimes directed to use fake websites or apps that display false returns on investments while actually transferring funds directly into accounts controlled by scammers. Attempts by victims to withdraw their money are frequently met with demands for additional fees or taxes, but these payments do not result in any recovery of funds.
For those seeking more information about these types of scams, resources are available at https://www.ic3.gov/PSA/2023/PSA230824. Individuals who believe they have been targeted are encouraged to report incidents both locally and through the FBI Internet Crime Complaint Center at www.ic3.gov or by contacting their local FBI Field Office.
The FBI led this case, and officials acknowledged Tether for its assistance in facilitating the asset transfer.
