A federal court has ordered the forfeiture of approximately $200,000 in Bitcoin (BTC) and Tether (USDT) linked to a scam targeting elderly individuals. Announced by the U.S. Attorney’s Office for Louisiana’s Middle District on December 18, the funds will be used for restitution to the victims. The scam, which affected at least four seniors in Louisiana, Texas, and Minnesota, involved coercing victims to deposit money into bitcoin ATMs under false pretenses. The U.S. Secret Service Cyber Fraud Task Force played a crucial role in tracing the fraudulent transactions. Prosecutors highlighted that such scams exploit fear and confusion, particularly among older adults. This case underscores ongoing efforts by federal authorities to protect vulnerable populations from cryptocurrency-related fraud.
Federal Court Orders Forfeiture of $200K in Crypto from Elder Scam
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