Tether, the leading entity in the digital asset industry, has announced its collaboration with the U.S. Department of Justice (DOJ) in seizing over $6 million in assets tied to a crypto-confidence scheme based in Southeast Asia, according to Tether.io. This effort underscores Tether’s ongoing commitment to combating fraud and working closely with law enforcement to protect the cryptocurrency ecosystem.

DOJ’s Swift Action

The DOJ announced that the funds were seized from a scheme that had defrauded individuals by imitating legitimate platforms. Tether’s intervention included freezing the assets, which facilitated the DOJ’s rapid recovery process. The U.S. Attorney’s Office in Washington, D.C., publicly acknowledged Tether’s crucial role in transferring the seized assets.

Previous Collaborations

Over the past 12 months, Tether has been instrumental in several law enforcement actions. These include assisting in the seizure of nearly $9 million in USD₮ from a cyber-scam organization, close to $5 million in USD₮ disrupting pig butchering operations, and $1.4 million worth of USD₮ tokens from a tech support scam network.

Commitment to Transparency

Tether’s proactive stance in aiding law enforcement reflects its dedication to transparency and accountability within the cryptocurrency industry. To date, the company has assisted more than 180 enforcement agencies across 45 jurisdictions, blocked over $1.8 billion in USD₮, redistributed more than $128 million in USD₮ to rightful owners and authorities, and voluntarily blocked over 1,850 wallets linked to illicit activities.

Paolo Ardoino, CEO of Tether, emphasized the company’s commitment to global law enforcement efforts, stating, “Tether is steadfast in its commitment to assist law enforcement agencies worldwide in stopping the misuse of cryptocurrency. We stand ready to collaborate with government agencies and deliver all necessary tools to ensure that global bad actors are brought to justice and that ultimately, the victims are supported.”

Ongoing Efforts

Tether remains dedicated to combating illicit activities and safeguarding the integrity of the cryptocurrency ecosystem. For more information on Tether’s proactive measures and initiatives, visit TetherFacts.

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