{"id":3040,"date":"2024-02-26T17:42:35","date_gmt":"2024-02-26T17:42:35","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=3040"},"modified":"2024-02-26T16:42:47","modified_gmt":"2024-02-26T16:42:47","slug":"crypto-scam-uncovered-in-myanmar","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/","title":{"rendered":"Crypto Scam Uncovered in Myanmar"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-tether-tokens-linked-to-fraud\">Tether Tokens Linked to Fraud<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A joint investigation by Chainalysis and International Justice Mission (IJM) has revealed a major crypto scam operating in Myanmar, allegedly netting over $100 million through a tactic known as \u201cpig butchering.\u201d Payments for these scams were made using Tether tokens, a popular cryptocurrency platform.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Concerns Over Tether&#8217;s Role<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The use of Tether tokens in fraudulent activities raises concerns about the platform&#8217;s vulnerability to exploitation. Tether&#8217;s lack of transparency regarding its reserves has previously attracted scrutiny, and this latest revelation adds to calls for stricter oversight.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The investigation&#8217;s findings may increase pressure on Tether to implement stricter measures against criminal misuse. UN warns about the platform&#8217;s popularity among money launderers and fraudsters in Southeast Asia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tether responds to the allegations by collaborating with regulatory authorities and freezing $276 million linked to &#8220;pig butchering&#8221; scams. Experts demand independent verification and tighter regulations in the crypto industry.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Broader Implications of Crypto Scams<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This investigation sheds light on how cryptocurrencies enable black market activities. It highlights the potential exploitation of cryptocurrencies by malicious actors and the human toll of such scams, as seen in the enslavement of laborers near the Thailand-Myanmar border.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether Tokens Linked to Fraud A joint investigation by Chainalysis and International Justice Mission (IJM) has revealed a major crypto scam operating in Myanmar, allegedly netting over $100 million through a tactic known as \u201cpig butchering.\u201d Payments for these scams were made using Tether tokens, a popular cryptocurrency platform. Concerns Over Tether&#8217;s Role The use [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":3042,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[259,43],"tags":[],"class_list":["post-3040","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins","category-general-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Crypto Scam Uncovered in Myanmar<\/title>\n<meta name=\"description\" content=\"Tether Tokens Linked to Fraud A joint investigation by Chainalysis and International Justice Mission (IJM) has revealed a major crypto scam operating in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Scam Uncovered in Myanmar\" \/>\n<meta property=\"og:description\" content=\"Tether Tokens Linked to Fraud A joint investigation by Chainalysis and International Justice Mission (IJM) has revealed a major crypto scam operating in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoMeter.io\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-26T17:42:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"679\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adam L\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adam L\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/\"},\"author\":{\"name\":\"Adam L\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/d05d4ef65ae9752036cc2b5e044592f9\"},\"headline\":\"Crypto Scam Uncovered in Myanmar\",\"datePublished\":\"2024-02-26T17:42:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/\"},\"wordCount\":201,\"publisher\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg\",\"articleSection\":[\"Altcoins\",\"General News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/\",\"url\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/\",\"name\":\"Crypto Scam Uncovered in Myanmar\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg\",\"datePublished\":\"2024-02-26T17:42:35+00:00\",\"description\":\"Tether Tokens Linked to Fraud A joint investigation by Chainalysis and International Justice Mission (IJM) has revealed a major crypto scam operating in\",\"breadcrumb\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#primaryimage\",\"url\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg\",\"contentUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg\",\"width\":800,\"height\":530,\"caption\":\"Crypto Scam\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.cryptometer.io\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto Scam Uncovered in Myanmar\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#website\",\"url\":\"https:\/\/www.cryptometer.io\/news\/\",\"name\":\"CryptoMeter.io\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"},\"alternateName\":\"CryptoMeter.io\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.cryptometer.io\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\",\"name\":\"CryptoMeter.io\",\"url\":\"https:\/\/www.cryptometer.io\/news\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/cropped-favicon_large.png?fit=512%2C512&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/cropped-favicon_large.png?fit=512%2C512&ssl=1\",\"width\":512,\"height\":512,\"caption\":\"CryptoMeter.io\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/x.com\/CryptoMeterIO\"],\"publishingPrinciples\":\"https:\/\/www.cryptometer.io\/news\/about-us\/\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/d05d4ef65ae9752036cc2b5e044592f9\",\"name\":\"Adam L\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-3-96x96.png\",\"url\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-3-96x96.png\",\"contentUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-3-96x96.png\",\"caption\":\"Adam L\"},\"description\":\"In the world of blockchain and cryptocurrencies, I have a great deal of passion and interest. My interest in blockchain and cryptocurrencies has led me to explore these technologies in greater depth, as I am interested in the potential implications they could have on the global economy.\",\"url\":\"https:\/\/www.cryptometer.io\/news\/author\/adam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Crypto Scam Uncovered in Myanmar","description":"Tether Tokens Linked to Fraud A joint investigation by Chainalysis and International Justice Mission (IJM) has revealed a major crypto scam operating in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/","og_locale":"en_US","og_type":"article","og_title":"Crypto Scam Uncovered in Myanmar","og_description":"Tether Tokens Linked to Fraud A joint investigation by Chainalysis and International Justice Mission (IJM) has revealed a major crypto scam operating in","og_url":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/","og_site_name":"CryptoMeter.io","article_published_time":"2024-02-26T17:42:35+00:00","og_image":[{"width":1024,"height":679,"url":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg","type":"image\/jpeg"}],"author":"Adam L","twitter_card":"summary_large_image","twitter_creator":"@CryptoMeterIO","twitter_site":"@CryptoMeterIO","twitter_misc":{"Written by":"Adam L","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#article","isPartOf":{"@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/"},"author":{"name":"Adam L","@id":"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/d05d4ef65ae9752036cc2b5e044592f9"},"headline":"Crypto Scam Uncovered in Myanmar","datePublished":"2024-02-26T17:42:35+00:00","mainEntityOfPage":{"@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/"},"wordCount":201,"publisher":{"@id":"https:\/\/www.cryptometer.io\/news\/#organization"},"image":{"@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg","articleSection":["Altcoins","General News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/www.cryptometer.io\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/","url":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/","name":"Crypto Scam Uncovered in Myanmar","isPartOf":{"@id":"https:\/\/www.cryptometer.io\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#primaryimage"},"image":{"@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg","datePublished":"2024-02-26T17:42:35+00:00","description":"Tether Tokens Linked to Fraud A joint investigation by Chainalysis and International Justice Mission (IJM) has revealed a major crypto scam operating in","breadcrumb":{"@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#primaryimage","url":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg","contentUrl":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg","width":800,"height":530,"caption":"Crypto Scam"},{"@type":"BreadcrumbList","@id":"https:\/\/www.cryptometer.io\/news\/crypto-scam-uncovered-in-myanmar\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.cryptometer.io\/news\/"},{"@type":"ListItem","position":2,"name":"Crypto Scam Uncovered in Myanmar"}]},{"@type":"WebSite","@id":"https:\/\/www.cryptometer.io\/news\/#website","url":"https:\/\/www.cryptometer.io\/news\/","name":"CryptoMeter.io","description":"","publisher":{"@id":"https:\/\/www.cryptometer.io\/news\/#organization"},"alternateName":"CryptoMeter.io","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cryptometer.io\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.cryptometer.io\/news\/#organization","name":"CryptoMeter.io","url":"https:\/\/www.cryptometer.io\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cryptometer.io\/news\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/cropped-favicon_large.png?fit=512%2C512&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/cropped-favicon_large.png?fit=512%2C512&ssl=1","width":512,"height":512,"caption":"CryptoMeter.io"},"image":{"@id":"https:\/\/www.cryptometer.io\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/CryptoMeterIO"],"publishingPrinciples":"https:\/\/www.cryptometer.io\/news\/about-us\/"},{"@type":"Person","@id":"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/d05d4ef65ae9752036cc2b5e044592f9","name":"Adam L","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-3-96x96.png","url":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-3-96x96.png","contentUrl":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-3-96x96.png","caption":"Adam L"},"description":"In the world of blockchain and cryptocurrencies, I have a great deal of passion and interest. My interest in blockchain and cryptocurrencies has led me to explore these technologies in greater depth, as I am interested in the potential implications they could have on the global economy.","url":"https:\/\/www.cryptometer.io\/news\/author\/adam\/"}]}},"jetpack_featured_media_url":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/02\/Crypto-Scam-Uncovered-in-Myanmar-e1708960682857.jpeg","_links":{"self":[{"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/posts\/3040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/comments?post=3040"}],"version-history":[{"count":2,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/posts\/3040\/revisions"}],"predecessor-version":[{"id":3046,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/posts\/3040\/revisions\/3046"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/media\/3042"}],"wp:attachment":[{"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/media?parent=3040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/categories?post=3040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/tags?post=3040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}