Since its launch in 2014, Tether, the issuer of the USDT stablecoin, has helped over 145 entities recover over $108.8 million in USDT linked to illicit activity. Tether CEO Paolo Ardoini emphasized the company’s commitment to working with law enforcement to combat fraud. To date, Tether has blocked over 1,900 cryptocurrency wallets associated with illegal activity. Recently, the company helped the U.S. Department of Justice seize approximately $5 million worth of USDT from fraudsters. This type of fraud, in which criminals deceive victims by gaining their trust, has increased significantly in 2023.
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