August 24, 2023.
The Drug Enforcement Administration (DEA) experienced a setback in its three-year investigation into digital currency laundering, losing over $50,000 in a cryptocurrency scam. The DEA had seized $500,000 in Tether from suspected Binance accounts, intending to use it as evidence. A scammer exploited the blockchain, airdropping a fake address into the DEA’s account, mimicking the United States Marshals Service’s address. The DEA mistakenly sent $55,000 to the scammer’s address. Despite attempts to freeze the funds, Tether officials revealed the money had already been converted to Ether and transferred to a new wallet. Working with the FBI, the DEA is now investigating the incident, hoping Google will provide information about the scammer’s identities linked to Gmail addresses used in Binance accounts. The airdrop attack underscores the need for enhanced verification and caution when dealing with large sums in cryptocurrency transactions.
Image courtesy The Block