1 month ago
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Key Takeaways
- Roughly 434 suspected victims were identified.
- Investigators used LIFO to trace transfers.
- A competing ownership claim remains unresolved.
- Tracing may not determine repayment priority.
The case is between seizure and payment
The 225.3 million USDT named in the case is already under U.S. government control. That answers where the assets are, but not who is legally entitled to receive them.
A civil forfeiture complaint filed in June 2025 alleges that the stablecoins were connected to cryptocurrency investment fraud and laundering. The filing initiated a court process; it did not produce a final ruling that assigns the entire pool to victims.
The Wall Street Journal reported that several hundred people have submitted claims, while British Virgin Islands-based gaming company Infiniweb has...
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