Since 2014, Tether has been closely collaborating with law enforcement agencies worldwide, resulting in the recovery of over $108.8 million in USDT tied to illegal activities.
Funds Recovered Since 2014
According to Tether's CEO Paolo Ardoini, the company actively supports law enforcement, taking all necessary measures to prevent the misuse of cryptocurrencies in criminal activities. Since 2014, Tether has worked with over 145 law enforcement agencies across 40 jurisdictions, enabling the blacklist of over 1,900 wallets and the recovery of millions of USDT to rightful owners and authorities.
Recent Fraud Case
In a recent case, Tether assisted the U.S. Department of Justice in recovering nearly $5 million in USDT linked to a fraudulent scheme known as 'pig butchering'. In this scam, fraudsters posed as love interests to lure victims into investing in nonexistent crypto platforms. Tether's cooperation with the FBI led to the freezing of several wallets associated with the scheme and the subsequent recovery of the stolen funds.
USDT Market Capitalization Growth
The market capitalization of USDT continues to grow, underscoring its significance in the global financial ecosystem. According to CoinMarketCap data, USDT's market capitalization has increased by $820 million in the past five days, reaching $117.6 billion.
Tether's efforts in law enforcement support play a crucial role in safeguarding digital assets and preventing their misuse in illegal activities.
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