• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

U.S Government sues for millions of USDT purportedly stolen

4 years ago
in Business, Cryptocurrency, Cyber-security, highlights, Home, home-news, latest News, Technology
2 min read
0 0
0
35
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

U.S Government sues for millions of USDT purportedly stolen

The United States Attorney’s office recently filed a civil complaint accusing four digital wallets containing more than 9.8 million Tether (USDT) of being involved in wire fraud, computer fraud, and money laundering. The complaint was led by U.S. Attorney, Tracy Wilkinson.

In April 2021, a California resident was swindled out of over 200 Bitcoin (BTC) by someone pretending to be a Coinbase employee, court documents stated.

It appears that the unidentified victim, shortly after buying some 200 BTC on Coinbase Pro, was contacted by Coinbase customer service.

An alleged representative of the platform told the victim that the amount of the purchase had frozen the victim’s account and that a transaction limit increase was required to process the funds. Furthermore, the scammer suggested that the victim upgrade to Coinbase Prime.

The swindler initiated a transaction once the victim gave them access to the account via remote desktop to which they transferred approximately 206 BTC to what was supposed to be the victim’s new Prime wallet.

Within a few hours, several smaller transactions were also executed which resulted in the theft of nearly $11.5 million in digital assets from the victim’s Coinbase account.

RelatedPosts

Price, Power, and Policy: A Legal and Economic Examination of the DSTV Pricing Dispute in Ghana

GCB Bank Honoured for Excellence in Project Delivery at 2025 PMEA

Top 10 African Countries With The Highest Borrowing Costs in 2025

The claim further describes how the digital assets were divided up into smaller transaction pieces and later concentrated in the four suspect wallets.

For the time being, the government has asked the court to allow it to seize the assets.

The federal government must prove the funds are forfeitable, according to Daniel Davis in an interview with Cointelegraph. He stated that if the plaintiff prevails, he or she will forfeit the proceeds to the United States before they can be returned to the legitimate owner.

“Using civil forfeiture authority to seize digital assets is a growing trend in which the federal government is trying to seize digital assets. In the future, civil forfeiture actions will grow as digital assets become more popular, especially if the government believes they were part of illegal activity,” Davis said.

Experts further believe the recovery of stolen cryptocurrency is an urgent need as one of the biggest issues in the space is stolen digital assets. Hopefully, law enforcement, as well as civil litigants, will take more actions like this.

Source: nairametrics
Via: norvanreports
Tags: BitcoinCoinbasecomputer fraudmoney launderingU.S Government sues for millions of USDT purportedly stolenwire fraud
No Result
View All Result

Highlights

From FX Pain to Profit Boom: Nigerian Companies Rebound Big After Devaluation

Importation of Toxic Fuel Deals a Major Blow to Dangote’s Fight for Market Share

GSE Rallies as Composite Index Crosses 7,000 Points; Trade Volume Surges Over 468%

COCOBOD Rules out Syndicated Loan for 2025/2026 Crop Season Amid Global Cocoa Shortage

Fitch Solutions Projects Cedi Stability Through 2025-2026, Cautions on Gold Price Risks

BoG Policy Rate Cut to 25%: Details of the 6-0 Vote Decision by MPC Members

Trending

Features

Price, Power, and Policy: A Legal and Economic Examination of the DSTV Pricing Dispute in Ghana

August 5, 2025

Price, Power, and Policy: A Legal and Economic Examination of the DSTV Pricing Dispute in Ghana 1....

GCB Bank Honoured for Excellence in Project Delivery at 2025 PMEA

August 5, 2025

Top 10 African Countries With The Highest Borrowing Costs in 2025

August 5, 2025

From FX Pain to Profit Boom: Nigerian Companies Rebound Big After Devaluation

August 5, 2025

Importation of Toxic Fuel Deals a Major Blow to Dangote’s Fight for Market Share

August 5, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.