✨ Tether Steps Up Again to Assist the US
posted 12 Mar 2024
And There Was No Need for Beekeeper Statham After All
Tether, the issuer of the USDT stablecoin, has again provided assistance to US law enforcement by helping to recover about 1.4 million USDT stolen by fraudsters masquerading as technical support. Tether has announced that all recovered funds will be returned to the victims and that the company will maintain its voluntary cooperation with government authorities.
The scammers allegedly tricked elderly individuals into contacting a bogus technical support service, then convinced them to convert all their money into cryptocurrencies under the threat of losing their savings. However, the USDT tokens were immediately transferred to the scammers' own crypto wallets.
We are proud of our collaboration with the United States government in combating financial fraud within the cryptocurrency ecosystem,Paolo Ardoino, Tether's CEO, expressed.
US law enforcement has publicly expressed gratitude towards Tether for its support. At the same time, despite refutations from both the company and external experts, certain media continue to levy accusations of money laundering and fraudulent activities against Tether.
More breaking news
