The company, which operates the world’s largest stablecoin by market capitalization, said it helped U.S. authorities confiscate the proceeds of an overseas crypto trust scheme.
Perpetrators of crypto trust schemes approach victims through dating apps, text messages, professional meet-ups and investment groups, gain their trust, and then deposit funds into crypto websites that promise false returns. tempt you to do it.
On Thursday, the U.S. Department of Justice (DOJ) announced the seizure of assets related to a Southeast Asian cryptocurrency trust scheme targeting one or more individuals in the United States.
The Justice Department said the FBI was able to trace the funds and identified several virtual currency wallets where more than $6 million worth of the victim’s assets were still held.
Tether said in a statement that it had frozen its assets to allow authorities to quickly recover the illegally obtained funds.
“Tether, the largest digital asset industry, today announced that it has assisted the U.S. Department of Justice (DOJ) in successfully seizing over $6 million in assets related to a cryptocurrency trust scheme based in Southeast Asia.”
In the past 12 months alone, stablecoin issuers have been linked to millions in fraudulent schemes, including about $14 million USDT in a pig slaughtering business and about $1.4 million USDT in a tech support scam. It said it helped seize crypto assets worth US dollars. network.
Tether CEO Paolo Ardoino said the company is committed to supporting law enforcement agencies around the world to stop the misuse of cryptocurrencies.
“We stand ready to work with government agencies and provide all the tools necessary to ensure that the world’s bad actors are brought to justice and, ultimately, victims are supported.”
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