The CEO of Heartland Tri-State Bank involved in the "pig butchering" case had their Ethereum address frozen by Tether, and shareholders received full compensation

2024-11-07 11:23:57

Collection

ChainCatcher news, former Heartland Tri-State Bank CEO Shan Hanes was sentenced to 293 months in prison for embezzling $47 million in a "pig butchering" scheme.

The ruling stated that Hanes relinquished ownership of the funds in the Ethereum address managed by Tether Limited. Tether blacklisted the address and froze its transaction permissions to protect investors' rights.

Judge John W. Broomes confirmed that all shareholders will receive full compensation. Meanwhile, the Federal Deposit Insurance Corporation (FDIC) also provided full protection for the bank's depositors.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.