The Drug Enforcement Agency takes from one criminal enterprise and accidentally gives to another, via a common crypto scam.
Highlights
- DEA seized $500,000 in Tether from two Binance accounts it suspected were being used to funnel illegal narcotics proceeds, according to a search warrant.
- The funds were placed in DEA-controlled accounts, stored in a Trezor hardware-based wallet and placed into a secure facility.
- Meanwhile, a scammer had been watching the blockchain and noticed when the DEA sent a test amount of $45.36 to the United States Marshals Service, as part of standard forfeiture processing.
- The scammer quickly set up a cryptocurrency address that matched the first five and last four characters of the Marshals account.
- The idea here was to basically trick the DEA into thinking the scammer’s address was actually the marshals service’s address.
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