As a seasoned researcher with a keen interest in the dynamic world of cryptocurrencies, I find Tether’s proactive stance against illicit activities to be commendable. Having delved into numerous cases of cybercrime, I can attest that every step towards dismantling these networks is a significant one, much like the dominoes falling in a complex game of strategy.
Starting from 2014, Tether has managed to retrieve more than $108.8 million in USDT funds linked to illegal activities, thanks to cooperation with over 145 different law enforcement groups worldwide.
In the words of Tether CEO Paolo Ardoni, Tether remains committed to its goal of assisting global law enforcement in their battle against the misuse of cryptocurrencies. He emphasized that Tether stands firmly with law enforcement agencies in their fight against fraud and any use of USDT or other crypto assets for illegal activities is strongly opposed by them.
Recently, the “pig-butchering” scam saw Tether assisting the United States Department of Justice (DOJ) in confiscating approximately $5 million worth of Tether tokens from fraudsters. These crooks had tricked victims by posing as romantic interests and then absconding with their funds after deceiving them.
Individuals participating in such activities often befriend their potential targets on the internet, investing considerable effort into building trust so as to convince them to invest more money.
Tether views this as a substantial triumph, stating that the confiscation of these funds signifies a noteworthy victory in the continuous struggle against cyber-related deception.
Further, Tether announced plans to bring in the Federal Bureau of Investigation (FBI) and the U.S. Secret Service to enhance their efforts against cryptocurrency-related crimes.
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2024-08-24 14:45