The FBI is investigating a Bitkanant-related cryptocurrency scam involving 5 million dollars

ChainCatcher news, the Federal Bureau of Investigation (FBI) has been investigating a cryptocurrency pig butchering scheme involving $5 million since August, targeting 71 victims through fraudulent investment plans. Court documents reveal that the scammers used fake social media profiles to lure individuals into a fraudulent trading platform called Bitkanant.

In August, federal prosecutors in North Carolina executed a search warrant and seized an unmanaged USDT wallet worth over $4.99 million, which initiated the investigation. These funds are currently held by the U.S. Marshals Service.