Tether Assists Global Law Enforcement in $12M Crypto Crime Bust

Tether’s Role in Tracing and Freezing Funds

The Thai Royal Police and the U.S. Secret Service recently executed a successful collaborative operation that resulted in the seizure of $12 million in USDT stablecoins allegedly linked to a major Southeast Asia scam network. Beyond the digital asset seizure, law enforcement arrested 73 individuals tied to the scam and confiscated additional assets valued at $15.67 million.

Stablecoin issuer Tether confirmed it supported the operation, which was carried out by Thailand’s Technology Crime Suppression Division (TCSD). Paolo Ardoino, CEO of Tether, emphasized that the seizure showcased how the inherent transparency of the blockchain significantly helps law enforcement agencies quickly close in on criminals.

“We are committed to supporting law enforcement around the world in freezing illicit assets, protecting victims, and ensuring that USDT continues to serve as a transparent tool for global commerce,” Ardoino stated, reiterating the company’s readiness to help global agencies block criminals from accessing illicitly obtained digital assets.

Read more: Thai Authorities Seize Nearly 1,000 Bitcoin Miners in Electricity Theft Bust

Tether’s involvement in the Thai operation underscores its consistent efforts to combat financial crimes involving digital assets on an international scale. The company reported that it has now collaborated with more than 290 law enforcement agencies across 59 jurisdictions, resulting in the freezing of over $3.2 billion in assets linked to illicit activity.

This case marks the third time in less than a year that Tether has assisted the U.S. Secret Service specifically. Previous instances include assisting the USSS in freezing $23 million in illicit funds tied to transactions on the Russian-sanctioned exchange Garantex. Tether also helped to freeze an additional $9 million connected to the Bybit hack.

In total, Tether has blocked over 3,660 wallets, including 2,100 cases, in coordination with U.S. agencies, cementing its position as a key partner in global crypto crime prevention.

FAQ 💡

• What happened in Thailand? Thai police and the U.S. Secret Service seized $12M in USDT tied to a scam network.
• How did Tether assist globally? Tether supported the operation, showcasing blockchain transparency in tracing and freezing illicit funds.
• What is Tether’s broader role? It has worked with 290+ agencies across 59 jurisdictions, freezing over $3.2B in assets worldwide.
• How often has Tether helped U.S. agencies? Tether has assisted the Secret Service three times in a year, blocking thousands of illicit wallets.