Tether's Continuous Dedication to Fighting Crypto Crime

Tether, a major stablecoin issuer, recently worked with the United States (US) Department of Justice (DOJ) to recover $6 million in digital assets tied to crypto scams in Southeast Asia.

Fraudsters had impersonated legitimate digital asset exchanges to deceive victims.

The statement reads:

“Tether froze these assets, aiding the DOJ's swift recovery. The U.S. Attorney's Office in Washington, D.C., publicly acknowledged Tether's assistance in transferring the assets.”

Tether emphasized its commitment to safeguarding the digital asset ecosystem by actively supporting law enforcement across multiple jurisdictions.

In the statement, Paolo Ardoino, Tether's CEO, noted:

“Tether is committed to supporting law enforcement agencies globally in combating cryptocurrency misuse. We stand ready to collaborate with government agencies and deliver all necessary tools to ensure that global bad actors are brought to justice and that ultimately, the victims are supported.”

The company remains dedicated to collaborating with government agencies to combat illegal activities and assist victims of fraud.

Tether's Efforts to Recover Assets

Tether has been instrumental in multiple operations beyond the recent recovery of $6 million.

The company assisted the DOJ in seizing $9 million and nearly $5 million in USDT tied to illegal activities, including disrupting "pig butchering" and tech support scams.

Collaborating with over 180 enforcement agencies across 45 jurisdictions, Tether has blocked $1.8 billion in USDT connected to criminal operations.

Additionally, it has returned $128 million to rightful owners and law enforcement, while blocking over 1,850 wallets linked to illicit activities.

The statement concludes:

“Tether remains resolute in its commitment to combat illicit activities and safeguard the integrity of the cryptocurrency ecosystem.”