- Tether's Cooperation with Law Enforcement
- Asset Seizure and Freezing Activities
- New Initiatives from Tether
Tether, a stablecoin, has collaborated with law enforcement agencies globally since 2014 to counteract illicit activity associated with its stablecoin, USDT. During this period, the company has assisted in retrieving over $108.8 million in USDT linked to various illegal operations.
Tether's Cooperation with Law Enforcement
Tether has worked with 145 law enforcement authorities to identify and block illicit activities. The company announced that it has restricted access to more than 1,900 cryptocurrency wallets globally, specifically targeting wallets associated with unlawful conduct.
Asset Seizure and Freezing Activities
Tether partnered with the US Department of Justice and crypto exchange OKX to seize $225 million in USDT associated with a Southeast Asia-based criminal organization engaged in romance fraud. Additionally, the company, along with Israel's National Bureau for Counter Terror Financing, has taken action to freeze about $873,000 worth of USDT, believed to have been used to finance terrorist activities in Israel and Ukraine.
New Initiatives from Tether
Recently, Tether announced its plans to launch a new stablecoin tied to the value of the United Arab Emirates Dirham (AED).
Tether's active collaboration with law enforcement agencies and its capability to promptly immobilize assets exemplify the company's commitment to counteracting illicit use of digital currencies and safeguarding its platform from exploitation for illegal activities.
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