Tether helped the DOJ seize over $6 million in assets linked to a fraudulent crypto scheme in Southeast Asia.
Tether blocked $1.8 billion USDT and cooperated with more than 180 law enforcement agencies across 45 jurisdictions globally.
The company aided law enforcement in recovering $128 million in illicit funds, and redistributing assets to rightful owners and authorities.
Tether, a company in the digital asset space, has announced that it has successfully assisted the U.S. Department of Justice (DOJ) in the seizure of over $6 million in assets tied to a crypto-confidence scheme based in Southeast Asia.Â
Tether Aids DOJ in Seizing $6M from Crypto Scam
In a recent post via the X Space by Wu Blockchain, the DOJ, with the help of Tether, has successfully retrieved over $6 million in earnings from a deceitful crypto operation. The project had tricked investors by imitating legitimate platforms, defrauding victims of their digital assets.Â
https://twitter.com/WuBlockchain/status/1840220656644063579
Tether played a critical part by holding the assets, enabling the agency to seize and recover them with ease. The U.S. Attorneyâs Office in Washington, D.C., publicly confessed the assistance in the recovery process.
Tetherâs collaboration with law enforcement is not limited to this case. In the past 12 months alone, the company has assisted in many instances. These include the takeover of nearly $9 million and $5 million in USDT from pig butchering scams, as well as $1.4 million in tokens from a tech support scam network.
Tether Blocks $1.8B USDT, Assists Law Enforcement Globally
To date, Tether has worked with more than 180 enforcement agencies across 45 jurisdictions worldwide. The company has blocked over $1.8 billion in USDT linked to illicit activities and has redistributed more than $128 million to rightful owners and law enforcement agencies. Additionally, Tether has voluntarily blocked over 1,850 wallets associated with illegal operations, helping law enforcement combat fraud on a global scale. Tetherâs bold system reveals its dedication to maintaining responsibility and clarity within the cryptocurrency space. âTether is committed to assisting law agencies in preventing the misuse of cryptocurrency,â said Tether CEO Paolo Ardoino. He emphasized readiness to cooperate with global authorities in order to stop bad actors and support victims.
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