US authorities have seized over $1 million in cryptocurrency linked to a pig butchering scam held at Binance. The scam, also known as sha zhu pan, is a type of investment scam that targets Chinese immigrants and students. The scammers typically contact their victims through social media or dating apps and pose as successful businesspeople. They then gain their victims' trust by promising them high returns on investments in cryptocurrency or other assets. Once the victims have invested money, the scammers start making small withdrawals to build their trust. However, once the victims have invested a significant amount of money, the scammers disappear with the funds.