The Rescue Role of USDT – Tether in Fighting Financial Crime


USDT – Tether’s Role in Halting Funds in Fraud

The company behind the stablecoin USDT, known as Tether, has played a significant role in assisting the United States Department of Justice and the FBI in combating online fraud. Through active cooperation with US authorities, approximately $1.4 million worth of USDT earmarked for criminal activities was identified and blocked.

Rescue Intervention in Senior-targeted Fraud

The fraud intercepted by American law enforcement agencies had a specific target – seniors in the USA. It involved displaying fake messages on the computers of elderly individuals, suggesting that they had fallen victim to hackers. Subsequently, the victims were coerced into contacting a fake tech support department, which, posing as aid, persuaded them to convert their funds into cryptocurrencies. The entire scheme aimed to siphon money from the seniors’ bank accounts under the guise of protecting them from cybercrime.

Tether’s Efforts in Combatting Financial Crime

Tether not only actively responds to authorities’ reports, assisting in identifying and seizing funds used in illegal activities, but also takes proactive steps to prevent financial fraud. Last year, the company froze assets located in 41 wallets belonging to individuals on the US Treasury’s Office of Foreign Assets Control (OFAC) sanctions list.

Tether collaborates with 19 jurisdictions globally, providing vital information to law enforcement agencies and cooperating in investigations concerning financial crime. The company froze around 800 million USDT in secondary market wallets linked to breaches and thefts. Additionally, in December of last year, upon 68 requests, 188 wallets containing a total of 70 million USDT were frozen – all thanks to Tether’s commitment to combatting financial crime.

The significant role Tether plays in combating financial crimes and cooperating with law enforcement agencies has contributed to protecting many individuals from savings loss and represents a crucial step towards a safer cyberspace for all users.