6 Million USDT Freezes at DOJ’s Request… What’s the Story?

Recently, Tether collaborated with the US Department of Justice to freeze over $6 million in USDT linked to a credit fraud in Southeast Asia.

This collaboration highlights the company’s commitment to combating the illicit use of cryptocurrencies. But it also highlights the lack of oversight resistance on blockchains.

Tether Helps DOJ Freeze 6 Million USDT Linked to Scam

Last week, Tether announced that it had helped the US Department of Justice seize over $6 million USDT. It is suspected that it is linked to a trust fraud operating in Southeast Asia.

In this type of scam, scammers manipulate victims by gaining their trust, often through social media connections. Once a relationship of trust is established, scammers encourage victims to invest in fake cryptocurrency platforms where they cannot withdraw their funds.