Federal agents crack down on cyber scam group, seize $9M worth of cryptocurrency

Federal agents have seized $9 million worth of cryptocurrency linked to a cyber scam organization that has exploited more than 70 victims, the U.S. Attorney’s Office for the Northern District of California said.

Before the seizure, the Justice Department and the U.S. Secret Service’s field office in San Francisco traced the Tether cryptocurrency, which is pegged to the U.S. dollar, to addresses allegedly linked to a group that scammed its victims through romance and cryptocurrency confidence schemes, the U.S. Attorney’s Office said.