FBI Recovers $600K in Tether From Ledger Wallet Fraud on March 31

According to the Department of Justice, a U.S. District Court for the District of Connecticut forfeited $600,000 in Tether on March 31, 2026, following an FBI investigation into a cryptocurrency fraud scheme. The assets were linked to a fake security letter that impersonated Ledger Security & Compliance and targeted a Connecticut resident, resulting in the theft of approximately $234,000 in cryptocurrency in September 2025.

The fraudulent letter instructed the victim to complete a security verification process that actually enabled attackers to compromise the hardware wallet and steal digital assets. FBI investigators traced the stolen cryptocurrency across multiple blockchain wallets and identified approximately $600,000 in Tether connected to the scheme. Federal prosecutors alleged the seized assets represented proceeds of wire fraud and property involved in money laundering. The Department of Justice intends to work through its forfeiture process to return recovered assets to victims where possible.