Coinbase & US Secret Service Strike Back: $225M USDT Recovered from Pig Butchering Scams

Crypto meets crime-fighting in a blockbuster takedown. Coinbase just handed the US Secret Service its biggest crypto recovery win yet—$225 million in Tether (USDT) traced to pig butchering scams.

How they did it:

The exchange's forensic teams tracked the laundered stablecoins across blockchains, mapping wallets to offshore fraud rings. Secret Service agents then froze the funds mid-transaction—proving even 'untraceable' crypto leaves breadcrumbs.

Why it matters:

Pig butchering scams have drained billions from victims worldwide. This haul shows centralized players like Coinbase can be law enforcement's best weapon against crypto crime—ironic for an industry built on decentralization.

The kicker? Some of these stablecoins were likely backed by the very commercial paper that collapsed during the 2023 banking crisis. Poetic justice for a scam that butchers wallets.