OP 14 March, 2024 - 08:20 AM
The US Attorney's Office expressed gratitude to Tether for its assistance in blocking the USDT stolen by scammers and transferring these assets from an unhosted wallet to law enforcement agencies.
Major stablecoin issuer Tether played a key role in helping the US Department of Justice and the Federal Bureau of Investigation (FBI) seize approximately $1.4 million worth of USDT stablecoins. The DOJ statement said the seizure was one of the first times the United States has recovered USDT misappropriated by scammers from an unhosted cryptocurrency wallet.
The scam allegedly targeted senior citizens throughout the United States. A pop-up window on the monitor on behalf of Microsoft or Apple reported that the computer had been hacked. The potential victim was asked to urgently contact the support service at the specified phone number. The criminals then used various social engineering techniques to convince victims to withdraw money from traditional bank accounts and convert it into cryptocurrency, supposedly to protect themselves from hackers.
“We are proud to work with the US government to combat financial fraud in the ecosystem and the seizure of $1.4 million worth of Tether (USDT) stablecoins. 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.
Earlier, analysts from the banking concern JPMorgan said that the position of the largest issuer of stablecoins Tether has become more vulnerable to influence from government control authorities due to the company’s significant dependence on the American market.
sc: tether.to/en/tether-assists-us-government-in-seizure-of-illicit-funds-linked-to-tech-scam
Major stablecoin issuer Tether played a key role in helping the US Department of Justice and the Federal Bureau of Investigation (FBI) seize approximately $1.4 million worth of USDT stablecoins. The DOJ statement said the seizure was one of the first times the United States has recovered USDT misappropriated by scammers from an unhosted cryptocurrency wallet.
The scam allegedly targeted senior citizens throughout the United States. A pop-up window on the monitor on behalf of Microsoft or Apple reported that the computer had been hacked. The potential victim was asked to urgently contact the support service at the specified phone number. The criminals then used various social engineering techniques to convince victims to withdraw money from traditional bank accounts and convert it into cryptocurrency, supposedly to protect themselves from hackers.
“We are proud to work with the US government to combat financial fraud in the ecosystem and the seizure of $1.4 million worth of Tether (USDT) stablecoins. 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.
Earlier, analysts from the banking concern JPMorgan said that the position of the largest issuer of stablecoins Tether has become more vulnerable to influence from government control authorities due to the company’s significant dependence on the American market.
sc: tether.to/en/tether-assists-us-government-in-seizure-of-illicit-funds-linked-to-tech-scam
