Compass Investments

Representatives from the Massachusetts federal prosecutor’s office intend to seize $327,829 in USDT that relates to a romantic dating cryptocurrency scam that robbed a victim of his savings at the conclusion of 2024.

The attacker posed as a lover, offering bogus crypto investments, then absconded with the money. It is a violation of federal law to engage in a financial transaction with the knowledge that it is intended to conceal the nature, location, origin, ownership, or control of illegally obtained funds, the U.S. Attorney’s Office for the District of Massachusetts said.

Romantic tricks with cryptocurrencies have cost US residents more than $1.3 billion in 2023 alone, and those numbers continue to rise. This forfeiture lawsuit serves as both an admonishment and an illustrative case of active prosecutorial resistance.

According to the U.S. Attorney’s Office for the District of Massachusetts, in November 2024, someone claiming to be Linda Brown contacted a Massachusetts resident through a dating platform. After a week (or several weeks) of building trust, Brown presented what looked like a legitimate cryptocurrency investment opportunity.

The victim transferred funds to cryptocurrency wallets controlled by the scammer, truly believing in the reality of the promised profits. However, when they tried to retrieve their money, they faced an insurmountable obstacle. The funds had already been transferred through multiple e-wallets and exchanged for USDT to obscure the trail. Such a money laundering scheme is expressly prohibited by federal regulations.