U.S. authorities arrest two Chinese nationals in $73-million crypto scam

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The U.S. accused the two of being involved in a type of cryptocurrency investment scam known as pig butchering, which has become a global billion-dollar industry

U.S. authorities charged two Chinese nationals in a cryptocurrency scam that laundered at least $73-million from defrauded victims, the Justice Department said on Friday.

. Victims were induced online into depositing money into these accounts – funds that were then laundered through U.S. financial institutions to bank accounts in the Bahamas.

 

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