Tether has cooperated with the U.S. Department of Justice (DOJ) to freeze over $6 million in funds tied to cryptocurrency fraud in Southeast Asia. Scammers posed as legitimate platforms to deceive investors, funneling funds to illicit wallets. Thanks to Tether's swift action, the assets were frozen before being laundered, allowing the DOJ to seize them.
Tether CEO Paolo Ardoino reaffirmed the company’s commitment to aiding law enforcement, emphasizing their efforts to bring global bad actors to justice. This action is part of Tether’s broader push to improve its reputation and prevent the misuse of USDT in illegal activities. The company has frozen over $1.8 billion linked to criminal operations so far.