Since 2014, Tether has recovered over $108.8 million worth of USDT from criminal activities with the help of over 145 law enforcement agencies.
According to a statement made by Tether CEO Paolo Ardoni “Tether remains resolute in its mission to support global law enforcement efforts in combating illicit uses of cryptocurrency.” He added that Tether is all in with law enforcement agencies in the fight against fraud, and the misuse of USDT or any crypto asset for illicit activities is condemned.
In a recent scam known as “pig-butchering,” Tether helped the US Department of Justice (DOJ) seize about $5 million of its Tether token from con artists who deceived victims by pretending to be romantic interests before vanishing with their money.
Criminals involved in this act usually meet their victims online and spend a lot of time gaining their trust to persuade them to make bigger investments.
Tether sees this as a good win, commenting that the seizure of funds “marks a significant victory in the ongoing battle against cyber-enabled fraud.”
Tether further made known to the public its intention to onboard the Federal Bureau of Investigation (FBI) and the US Secret Service to effectively combat crypto crime.