The US Attorney's Office expressed its gratitude to Tether for helping to block USDT stolen by fraudsters and transfer these assets from a non-hosting wallet to law enforcement agencies.
The largest issuer of stablecoins, Tether, played a key role in helping the US Department of Justice and the Federal Bureau of Investigation (FBI) confiscate about $1.4 million worth of USDT stablecoins. In a statement, the Justice Department said that this confiscation was one of the first cases when the United States returned USDT appropriated by fraudsters from a non-hosting cryptocurrency wallet.
The fraudulent scheme allegedly targeted senior citizens across the United States. A pop-up window on the monitor on behalf of Microsoft or Apple reported that the computer was hacked. The potential victim was asked to immediately contact the support service at the specified phone number. Then the criminals, using various methods of social engineering, convinced the victims to withdraw money from traditional bank accounts and convert it into cryptocurrency, allegedly to protect them from hackers.
"We are proud of our collaboration with the U.S. government to combat financial fraud in the ecosystem and confiscate $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 of the banking concern JPMorgan said that the positions of the largest issuer of stablecoins Tether have become more vulnerable to influence from the state control authorities due to the company's significant dependence on the American market.
• Source: https://tether.to/en/tether-assists-us-government-in-seizure-of-illicit-funds-linked-to-tech-scam/
The largest issuer of stablecoins, Tether, played a key role in helping the US Department of Justice and the Federal Bureau of Investigation (FBI) confiscate about $1.4 million worth of USDT stablecoins. In a statement, the Justice Department said that this confiscation was one of the first cases when the United States returned USDT appropriated by fraudsters from a non-hosting cryptocurrency wallet.
The fraudulent scheme allegedly targeted senior citizens across the United States. A pop-up window on the monitor on behalf of Microsoft or Apple reported that the computer was hacked. The potential victim was asked to immediately contact the support service at the specified phone number. Then the criminals, using various methods of social engineering, convinced the victims to withdraw money from traditional bank accounts and convert it into cryptocurrency, allegedly to protect them from hackers.
"We are proud of our collaboration with the U.S. government to combat financial fraud in the ecosystem and confiscate $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 of the banking concern JPMorgan said that the positions of the largest issuer of stablecoins Tether have become more vulnerable to influence from the state control authorities due to the company's significant dependence on the American market.
• Source: https://tether.to/en/tether-assists-us-government-in-seizure-of-illicit-funds-linked-to-tech-scam/
