The US Department of Justice publicly thanked Tether for helping to confiscate the assets of criminals
The U.S. Attorney's Office expressed gratitude to Tether for its help in blocking the stolen USDT by fraudsters and transferring these assets from a non-hosting wallet to law enforcement agencies.
Tether, the largest issuer of stablecoins, played a key role in helping the U.S. Department of Justice and the Federal Bureau of Investigation (FBI) seize about $1.4 million worth of USDT stablecoins. The Ministry of Justice said in a statement that this confiscation was one of the first cases in which the United States returned USDT appropriated by fraudsters from a non-hosting cryptocurrency wallet.
The fraudulent scheme was allegedly aimed at senior citizens across the United States. In a pop-up window on the monitor on behalf of Microsoft or Apple, it was reported that the computer had been hacked. The potential victim was asked to urgently contact the support service at the specified phone number. Then the criminals, using various methods of social engineering, persuaded the victims to withdraw money from traditional bank accounts and convert it into cryptocurrency, ostensibly to protect against hackers.
"We are proud of our cooperation with the US government in the fight against financial fraud in the ecosystem and the confiscation of Tether (USDT) stablecoins worth $1.4 million. Together with law enforcement agencies around the world, we will continue to work to create a safer and more secure environment," said Tether CEO Paolo Ardoino.
