Tether Freezes $344 Million in USDT to Combat Illegal Activities
- Tether has frozen over $344 million in USDT in collaboration with U.S. authorities.
- The company works with over 340 law enforcement agencies across 65 countries, participating in more than 2,300 investigations.
- This action is part of Tether’s ongoing commitment to prevent illegal activities within the cryptocurrency space.
- Tether has previously assisted in freezing assets totaling approximately $4.4 billion globally, including $2.1 billion related to U.S.-based cases.
- CEO Paolo Ardoino stated that USDT is not a safe haven for illegal activity and emphasized the importance of swift action.
The freezing of these funds underscores Tether’s proactive measures against illicit transactions, leveraging public blockchains for effective tracking and identification of suspicious wallets.
With this recent freeze, Tether continues its efforts to uphold integrity in the cryptocurrency market, having previously frozen assets linked to fraud schemes totaling around $225 million.(Source)
