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DOJ Files To Seize $225 Million In Crypto From Scammers

1 month 4 weeks ago
The DOJ has filed a civil complaint to seize $225.3 million in cryptocurrency linked to pig butchering scams -- long-con frauds where victims are tricked into fake crypto investments. The funds were laundered through a blockchain network, and the DOJ says recovered money will go toward reimbursing victims. The Verge reports: The 75-page complaint (PDF) filed in the US District Court for the District of Columbia lays out more detail about the seizure. According to it, the US Secret Service (USSS) and Federal Bureau of Investigation (FBI) tied scammers to seven groups of Tether stablecoin tokens. The fraud fell under what's typically known as "pig butchering": a form of long-running confidence scam aimed at tricking victims -- sometimes with a fake romantic relationship -- into what they believe is a profitable crypto investment opportunity, then disappearing with the funds. Pig butchering rings often traffic the workers who directly communicate with victims to Southeast Asian countries, something the DOJ alleges this ring did. The DOJ says Tether and crypto exchange OKX first alerted law enforcement in 2023 to a series of accounts they believed were helping launder fraudulently obtained currency through a vast and complex web of transactions. The alleged victims include Shan Hanes (referred to in this complaint as S.H.), the former Heartland Tri-State Bank president who was sentenced to 24 years in prison for embezzling tens of millions of dollars to invest in one of the best-known and most devastating pig butchering scams. The complaint lists a number of other victims who lost thousands or millions of dollars they thought they were investing (and did not commit crimes of their own). An FBI report (PDF) cited by the press release concluded overall crypto investment fraud caused $5.8 billion worth of reported losses in 2024.

Read more of this story at Slashdot.

BeauHD

Deal to 'save' UK colleges £45M in Oracle Java licensing fees followed audit requests

1 month 4 weeks ago
Framework agreement may rescue some unis from 'financial abyss' after Oracle per-employee Java license, says insider

Exclusive  Oracle requested Java audits with UK higher education institutions leading up to the negotiation of a national framework agreement — set to be worth up to £9.86 million ($13.33 million) — which aims to save the institutions £45 million when compared to standard commercial pricing.…

Lindsay Clark

Error'd: Colophony

1 month 4 weeks ago

Just a quick note this week: I discovered that many people have been sending in submissions for this column and designating them for CodeSod by mistakes. Consequently, there is an immense backlog of material from which to choose. An abundance of riches! We will be seeing some older items in the future. For today, a collection of colons:

Bill NoLastName , giving away clues to his banking security questions online: "If had known there was a limit, I would have changed my daughter's middle name. I've been caught by this before - my dad has only a middle initial (no middle name)."

 

Gordon F. heard of a greal deal: "This is the first mention of shipping on a hearing aids website. Tough choice."

 

Michael P. underlines a creative choice: "I got an email from a recruiter about a job opening. I'm a little confused about the requirements."

 

Cole T. pretend panics about pennies (and maybe we need an article about false urgency, hm): "Oh no! My $0 in rewards are about to expire!"

 

Finally, bibliophile WeaponizedFun (alsonolastname) humblebrags erudition. It ain't War & Peace, but it's still an ordeal! "After recently finishing The Brothers Karamazov after 33 hours on audio disc, I was a bit surprised to see that Goodreads is listing this as my longest book with only 28 pages. 28 discs, maybe, but I still am questioning their algorithm, because this just looks silly."

 

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Lyle Seaman