- Tether aids law enforcement, helping recover $108.8M in USDT linked to illicit activities globally.
- Over 1,900 wallets tied to crimes blocked by Tether, helping to recover the USDT.
- Tether CEO Paolo Ardoino emphasized Tether’s dedication to promoting responsible use.
Tether, the world’s leading digital asset company, has actively supported law enforcement agencies worldwide, helping recover over $108.8 million in USDT tied to illicit activities. Since its launch in 2014, the firm has worked with over 145 agencies in 40 jurisdictions, focusing on combatting financial crimes involving cryptocurrency.
Proactive Measures in Criminal Investigations
Tether’s collaboration with the U.S. Department of Justice (DOJ) underscores its dedication to disrupting illegal activities involving stablecoins. Recently, the DOJ highlighted Tether’s role in recovering nearly $5 million in USDT linked to a fraud scheme known as “pig butchering.” This scheme involved tricking victims into fraudulent online relationships, which then led them to invest in fake cryptocurrency platforms that appeared legitimate. By working closely with the FBI, Tether successfully froze the involved wallets, facilitating the recovery of the stolen funds.
Tether’s proactive measures have not been limited to specific cases but have extended across global jurisdictions. The company has blocked more than 1,900 cryptocurrency wallets connected to criminal activity, voluntarily cooperating with law enforcement agencies. Tether’s approach aims to curb the misuse of its technology, particularly in cyber-enabled financial crimes. Their efforts to assist in investigations have proven effective in stopping illegal activity and redistributing stolen assets back to their rightful owners.
Tether Launches Dirham-Pegged Stablecoin with UAE PartnersCommitment to Transparency
Tether’s ongoing collaboration with law enforcement signals its commitment to transparency and accountability. By working alongside the FBI and other agencies, the company has demonstrated its ability to actively assist in investigations and support victim recovery.
CEO Paolo Ardoino emphasized Tether’s dedication to fighting fraud and promoting responsible cryptocurrency use. Tether’s support for law enforcement across numerous jurisdictions showcases the critical role of digital asset companies in maintaining the integrity of the financial ecosystem.
In related news, Tether minted an additional 1 billion USDT on Tron’s blockchain on August 20. This new issuance brings Tether’s total supply over the last year to $33 billion, emphasizing its key position within the crypto market.
