• 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. 

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. 

Tether announced today that it assisted the U.S. DOJ in seizing over $6 million in assets linked to a crypto-confidence scheme based in Southeast Asia. To date, Tether has assisted more than 180 enforcement agencies across 45 jurisdictions, blocked $1.8+ billion USDT.…

— Wu Blockchain (@WuBlockchain) September 29, 2024

Tether played a critical part by holding the assets, enabling the agency to seize and recover them with ease. The U.S. Attorney’s Office in Washington, D.C., publicly confessed the assistance in the recovery process.

Tether’s 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.

Read CRYPTONEWSLAND on google news

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. Tether’s bold system reveals its dedication to maintaining responsibility and clarity within the cryptocurrency space. “Tether is committed to assisting law agencies in preventing the misuse of cryptocurrency,” said Tether CEO Paolo Ardoino. He emphasized readiness to cooperate with global authorities in order to stop bad actors and support victims.

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.