Reports have repeatedly suggested that Tether worth billions of dollars has been laundered following pig butchering and sextortion scams — and it’s a problem getting worse, not better.

The blockchain analytics firm Elliptic says Tether is the primary payment method of a platform called Huione Guarantee, which facilitates transactions on behalf of cybercriminals and their customers.

Some merchants claim they can assist with money laundering, especially with ill-gotten gains obtained through pig butchering incidents. Others say they’re willing to help deal with the proceeds of sextortion scams.

For the uninitiated, pig butchering scams see fraudsters gradually win the trust of unsuspecting individuals — often by pretending to be romantically interested — and encouraging them to gradually place their entire life savings into too-good-to-be-true crypto investments.

Crypto enthusiast, athlete, millionaire and happy person!