Pig butchering scam leads to $1.4m crypto seizure by Virginia police

Loudoun County police in Virginia have seized $1.4 million in cryptocurrency linked to a “pig butchering” rip-off.

The Sheriff’s Workplace confirmed that roughly $1.4 million tied to the rip-off was recovered, marking one of many largest crypto seizures in Virginia, in keeping with police reports.

Sheriff Mike Chapman emphasised the division’s dedication to holding fraudsters accountable, stating: “In the event you commit fraud, particularly a fraud of this magnitude, know that Loudoun County is coming for you.”

The case started when a sufferer obtained an unsolicited textual content message addressed to the improper particular person. This led to on-line conversations wherein the scammer gained the sufferer’s belief and persuaded them to spend money on cryptocurrency by way of a fraudulent buying and selling platform.

After an preliminary check withdrawal, the sufferer was tricked into investing more cash. Once they tried to withdraw their funds, they have been instructed to pay extreme taxes upfront—a common tactic in pig butchering scams.

Loudoun County Sheriff’s Workplace detectives, all licensed in blockchain investigations, traced the stolen funds as a part of their rising deal with cybercrime.

The company reported investigating 107 crypto-related circumstances final 12 months, with complete losses exceeding $13 million.

Authorities urge residents to be cautious of unsolicited messages, confirm funding platforms, and seek the advice of monetary professionals earlier than making vital investments.

Victims of crypto scams in Loudoun County are inspired to report incidents to LCSO to enhance the probabilities of recovering misplaced funds.