DOJ Recovers $40K in Cryptocurrency from Trump-Vance Inaugural Scam
The Department of Justice (DOJ) has successfully traced and seized $40,000 in cryptocurrency from scammers posing as officials from the Trump-Vance Inaugural Committee. This operation highlights ongoing efforts to combat cryptocurrency fraud through collaboration between law enforcement and crypto entities.
Details of the Cryptocurrency Scam
On December 24, 2024, scammers sent a fraudulent email appearing to originate from Steve Witkoff, co-chair of the Trump-Vance Inaugural Committee. Using a deceptive domain name, they convinced a donor to transfer $250,300 worth of USDT stablecoin on the Ethereum blockchain to wallets they controlled.
Recovery of Stolen Funds
The Federal Bureau of Investigation (FBI) employed blockchain analysis to trace and recover $40,300 of the stolen USDT. The DOJ acknowledged Tether‘s cooperation in freezing the assets, demonstrating effective public-private partnerships in fighting crypto crime.
Protecting Against Cryptocurrency Scams
Steven Jensen, Assistant Director of the FBI Washington Field Office, emphasized vigilance: “Always verify email senders and never transfer cryptocurrency to unverified recipients,” he advised. “Scammers frequently use subtle variations to appear legitimate.”
Cryptocurrency in Political Fundraising
The case emerges as cryptocurrency gains traction in politics. In May 2024, Donald Trump‘s campaign began accepting cryptocurrency donations, signaling growing mainstream adoption.
Key Facts
- The DOJ recovered $40,300 from a $250,300 scam
- Scammers impersonated Trump-Vance Inaugural Committee officials
- Tether assisted in freezing the stolen assets
- The FBI used blockchain analysis to trace funds
