Since its inception in 2014, Tether has actively collaborated with law enforcement agencies globally to combat illegal activities involving its stablecoin USDT. The company has played a significant role in helping recover more than $108.8 million in USDT tied to various illicit activities.
Law Enforcement Collaboration
Tether has actively collaborated with law enforcement agencies globally to combat illegal activities involving its stablecoin USDT. The company has voluntarily blocked over 1,900 cryptocurrency wallets worldwide, identified as being connected to illicit activities. Tether has also publicly condemned the misuse of USDT or any cryptocurrency for criminal activities, stressing the importance of maintaining a secure and transparent ecosystem.
Key Cases
Recently, Tether collaborated with the United States Department of Justice and crypto exchange OKX to freeze $225 million in USDT linked to a Southeast Asia-based crime syndicate. Following a months-long investigation, funds used by the crime syndicate for fraudulent activities were frozen, illustrating Tether’s ongoing commitment to law enforcement partnerships. Tether CEO Paolo Ardoini stated on August 23: "Tether is committed to aiding global law enforcement in tackling the illegal use of cryptocurrency". Notably, in collaboration with Israel's National Bureau for Counter Terror Financing, Tether froze around $873,000 worth of USDT, allegedly used to fund terrorist activities in Israel and Ukraine. This proactive stance demonstrates the company’s dedication to preventing the misuse of digital currencies.
Conclusion
Since its inception, Tether has consistently collaborated with law enforcement agencies to combat illegal activities, evidenced by significant successes like recovering $108.8 million in illicit USDT and freezing substantial funds linked to criminal syndicates. These measures underscore the importance of leveraging technological capabilities to prevent crimes and ensure user safety.
Tether continues to lead in combating cryptocurrency crimes, aiding in the recovery of illicit funds, and actively collaborating with global law enforcement agencies.
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