United

USDT stablecoin issuer Tether assisted the U.S. Department of Justice and the FBI in seizing around $1.4 million worth of USDT.
According to Tether’s <a href="https://tether.to/en/tether-assists-us-government-in-seizure-of-illicit-funds-linked-to-tech-scam/" target="_blank" rel="noopener noreferrer nofollow">post</a> on March 12, assets will be returned to victims of fraud. American authorities thanked the company for its help.
<blockquote class="wp-block-quote">
 “The seizure of $1.4 million worth of Tether (USDT) marks a significant milestone in our ongoing efforts to uphold integrity in this rapidly evolving industry.”&nbsp; <cite>Paolo Ardoino, CEO of Tether</cite>
</blockquote>
According to <a href="https://crypto.news/tag/Tether/" rel="noopener noreferrer nofollow">Tether</a>, the scam targeted mainly senior citizens throughout the United States. Fraudsters used pop-ups to trick victims into believing their computers had been hacked, encouraging them to contact technical support. The victims were then tricked into thinking their bank accounts were at risk, leading to the funds being converted into cryptocurrency to protect them from hackers. These funds were transferred to virtual currency wallets controlled by the attackers.
Tether is actively cooperating with U.S. authorities to help freeze its assets. In December, it <a href="https://crypto.news/tether-new-security-policy-41-crypto-wallets-frozen/" target="_blank" rel="noopener noreferrer nofollow">froze</a> assets in 41 wallets belonging to individuals on the U.S. Office of Foreign Assets Control (<a href="https://crypto.news/tag/OFAC/" target="_blank" rel="noopener noreferrer nofollow">OFAC</a>) sanctioned list.
Tether <a href="https://crypto.news/tether-has-frozen-32-addresses-linked/" target="_blank" rel="noopener noreferrer nofollow">cooperates</a> with 19 jurisdictions worldwide and assists in ongoing investigations by actively offering information to law enforcement agencies. The company froze 800 million USDT in secondary market addresses, mainly associated with hacking and theft. The company said it assisted the U.S. Department of Justice with 68 requests, blocking 188 wallets containing 70 million USDT.
You might also like: <a href="https://crypto.news/tether-blacklists-four-addresses-holding-over-20m-in-usdt/" rel="noopener noreferrer nofollow"> Tether blacklists four addresses holding over $20m in USDT </a>

Tether freezes $1.4m USDT linked to US tech scam

crypto.news

Other articles published on Mar 12, 2024

What Can Investors Expect From Bitcoin Bulls?

Pepe Coin Listed on Heavily Regulated Canadian Exchange Amid Volatile Price Action: Analyst Expec...

From Memes to Millions: The Incredible Story of BEFE Coin’s Unstoppable Takeover of the Meme Univ...

Following Historical Patterns, Will BTC Top Out in the Next 9–12 Months?

Ethereum Dencum Upgrade: Final Countdown Begins

Court limits SEC use of new cases in Binance crypto battle

Join our free newsletter for daily crypto updates!