Tether, which claims to be one of the largest companies in the cryptocurrency industry, says that it continues its unwavering commitment “to combat illicit activities and provide support to victims through its assistance to, and support of, law enforcement agencies.”
As the U.S. Department of Justice just noted in a recent announcement, Tether again “helped law enforcement thwart the bad actors and aid their victims’ recovery.”
In line with its dedication to upholding “the integrity of the financial ecosystem, Tether recently onboarded the United States Secret Service into its platform and will be working with the Federal Bureau of Investigation to do the same.”
This strategic initiative aims to “extend crucial support to victims affected by crimes under investigation by the U.S. Department of Justice.”
Tether remains resolute in aligning its efforts “with law enforcement to combat nefarious activities and contribute to victim recovery.”
Paolo Ardoino, CEO of Tether, emphasized the company’s stance, stating:
“Tether remains steadfast in its commitment to supporting law enforcement efforts and aiding victims in their recovery. We condemn the misuse of USDT or any cryptocurrency for illicit purposes and are fully committed to collaborating with global law enforcement agencies.”
Tether’s assistance to the U.S. Department of Justice stands “as a tangible testament to the enduring relationship between the cryptocurrency industry and law enforcement agencies.”
These ongoing efforts exemplify Tether’s proactive approach “to supporting law enforcement initiatives and underscore its dedication to contributing positively to the global financial ecosystem.”
As covered recently, Tether, the largest company in the cryptocurrency ecosystem, and leading global crypto exchange and Web3 technology company OKX, announced that they have assisted the United States Department of Justice (DOJ) in an investigation that “led to Tether proactively and voluntarily freezing approximately 225 million in USDT tokens in external self-custodied wallets linked to an international human trafficking syndicate in Southeast Asia responsible for a global ‘pig butchering’ romance scam.”
The joint investigation was conducted “using tools from blockchain analysis firm Chainalysis, and the action by Tether represents the largest-ever freeze of USDT in history.”
During a months-long investigative effort “by Tether and OKX, U.S. law enforcement agencies, including the DOJ, were proactively alerted to the location of the illicit funds by analyzing the flow of those funds through the blockchain.”