Tether, a stablecoin, has collaborated with law enforcement agencies globally since 2014 to counteract illicit activity associated with its stablecoin, USDT. The business has assisted 145 law enforcement authorities in the retrieval of more than $108.8 million in USDT, which is linked to a range of illegal operations.
Tether has proactively restricted access to more than 1,900 cryptocurrency wallets globally, specifically targeting wallets associated with unlawful conduct.
The company has officially denounced the illicit use of USDT or any crypto for criminal purposes, guaranteeing a secure and transparent environment for its customers.
Tether has partnered with the US Department of Justice and crypto exchange OKX to seize $225 million in USDT associated with a Southeast Asia-based criminal organization engaged in romance fraud.
Tether has collaborated with many international law enforcement agencies to immobilize assets linked to criminal syndicates. Tether, in partnership with Israel’s National Bureau for Counter Terror Financing, has taken action to freeze about $873,000 worth of USDT.
These funds are believed to have been utilized to finance terrorist actions in Israel and Ukraine. Tether’s strong dedication to collaborating with law enforcement agencies and its capability to promptly immobilize assets exemplify its unwavering commitment to thwarting the illicit utilization of digital currencies and safeguarding its platform from being exploited for illegal activities.
Recently, Tether announced its plans to launch a new stablecoin that will be tied to the value of the United Arab Emirates Dirham (AED).
