"The victim, identified in court documents only as T.M., received an unsolicited letter at their home address in September 2025. The letter appeared to come from Ledger Security and Compliance and instructed the recipient to complete a mandatory security review of their Ledger hardware wallet."
"Investigators traced the stolen assets using blockchain analytics. The scammers had moved the funds through multiple intermediary wallets and converted them into USDT, a stablecoin pegged to the U.S. dollar, in an attempt to obscure the trail."
"The forfeiture complaint, filed as case 3:26-cv-28 in the District of Connecticut, alleged the USDT represented proceeds of wire fraud and was connected to money laundering violations."
Federal prosecutors in Connecticut recovered more than $600,000 in tether (USDT) after tracing stolen cryptocurrency from a phishing scam. The scam involved a deceptive letter that misled a hardware wallet user into providing their recovery seed phrase. The U.S. District Court issued a decree of forfeiture, transferring the funds to the government. Investigators used blockchain analytics to trace the stolen assets, which had been moved through multiple wallets. The forfeiture complaint alleged the USDT was linked to wire fraud and money laundering violations.
Read at news.bitcoin.com
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