- Tether blocked over $1.8B in USDT, returning $128M to rightful owners, showing its strong stance against crypto fraud.
- In the last 12 months, Tether helped seize $9M in USDT from scams, reinforcing its commitment to transparency and justice.
- Tether’s role in blocking 1,850 illicit wallets highlights its dedication to protecting the crypto ecosystem from misuse.
Over $6 million in funds linked to a Southeast Asian crypto-confidence scam were seized by the US Department of Justice with the help of Tether, the biggest player in the digital asset market. Tether's commitment to preventing Bitcoin fraud is demonstrated by this seizure. The business has actively supported law enforcement in numerous attempts to stop illegal activity. Over 180 law enforcement agencies across 45 jurisdictions have worked with Tether so far.
Tether Freezes More Than $1.8 Trillion in US dollars.
With Tether's help, assets valued at more than $1.8 billion in USDT have been frozen, and restored over $128 million to the proper owners and law enforcement, proving the business's dedication to openness. It has further strengthened its position as the cryptocurrency's guardian by voluntarily blocking 1,850 wallets linked to unlawful activity.
Besides, in the past 12 months, Tether's efforts have been crucial in multiple U.S. law enforcement cases. These include seizing nearly $9 million in USDT from cyber-scam organizations and disrupting $5 million worth of USDT from "pig butchering" operations. Furthermore, Tether helped recover $1.4 million in tokens through tech support frauds, which deceived users by posing as reliable services.
Dedication to Openness and Responsibility
Tether's proactive strategy further highlights the company's dedication to accountability and openness in the cryptocurrency market. The company's involvement in the fight against illicit operations is further strengthened by its capacity to blacklist suspicious addresses and collaborate closely with exchanges. Despite the decentralized nature of cryptocurrency, USDT has proven capable of preventing misuse by stopping the laundering of stolen assets.
Paolo Ardoino, CEO of Tether, emphasized the company’s resolve to continue aiding global law enforcement efforts. He stated that Tether stands ready to support victims and collaborate with agencies to bring bad actors to justice. This ongoing collaboration with global authorities highlights Tether’s dedication to ensuring the integrity of the cryptocurrency ecosystem, making it a trusted partner in combating fraud.
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