The U.S. government is seeking to confiscate millions of dollars in cryptocurrencies from a Binance account, claiming that the funds were obtained through wire fraud and money laundering related to a fraudulent investment scheme. The assets were seized in October 2024 and include various cryptocurrencies such as Bitcoin, Ethereum, and USDT. According to the complaint, the funds were traced back to a scam called Trade Propel, which operated under the guise of an investment platform. Victims were convinced to invest in a cryptocurrency trading opportunity through a Facebook group, but the Trade Propel website turned out to be fraudulent. The seized assets are said to be proceeds of wire fraud and were allegedly involved in money laundering activities. The U.S. government is requesting a court order to formally seize the assets and distribute them in accordance with federal law to dismantle fraudulent schemes in the crypto industry.



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