1. Tether and DOJ Collaboration
2. $1.8 Billion of Illicit Funds Frozen
3. Combating Fraud and Money Laundering

Tether, in collaboration with the U.S. Department of Justice (DOJ), altered the outcome of a crypto scam by preventing the laundering of significant amounts.

Tether and DOJ Collaboration

Tether collaborated with the DOJ to freeze over $6 million linked to a Southeast Asia-based cryptocurrency scam. Fraudsters created fake websites posing as legitimate platforms to deceive investors into parting with their money. This coordination enabled law enforcement to recover the funds before they could be laundered into more obscure structures.

$1.8 Billion of Illicit Funds Frozen

Tether has frozen $1.8 billion in USDT connected to illicit activities over the company's existence. The recent case is one of many reflecting the company's policy to counter criminal operations. The latest case was related to a Southeast Asian scam.

Combating Fraud and Money Laundering

Tether has taken additional steps by partnering with Chainalysis to help combat the use of its stablecoin in money laundering, fraud, and terrorism financing.

The collaboration between Tether and the DOJ showcases the efficacy of joint efforts in combating crypto scams and money laundering, enabling the recovery of significant amounts for the affected individuals.