'Pig-butchering' scam targeting Mass. resident prompts action from prosecutors

The Massachusetts U.S. Attorney's Office is seeking the recovery of approximately $2.3 million in cryptocurrency, including proceeds from a so-called "pig butcher" fraud scheme targeting a Massachusetts resident as part of a romance scam, prosecutors announced on Thursday. Wednesday.

Prosecutors began investigating the fraud in spring 2023 and discovered that a Massachusetts resident had been tricked into transferring more than $400,000 to a cryptocurrency wallet, Acting U.S. Attorney Joshua S. Levy said in a statement.

While the wallet was hosted on a legitimate cryptocurrency exchange, some of the funds were transferred to other wallets and ultimately to Binance, another cryptocurrency exchange.

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