Tether has assisted the US Department of Justice in recovering funds related to cryptocurrency scams. The latest transactions resulted in the recovery of $6 million in USDT stolen through trust fraud schemes. In such schemes, the attackers lured victims into fictitious investment platforms via instant messengers, offering high returns.
Particular attention was paid to scams occurring in Southeast Asian countries such as Myanmar, Cambodia, and Laos, where organized crime groups set up «hubs» to implement such schemes. Victims were offered to invest in cryptocurrencies through platforms that were completely controlled by the scammers. At first, promised profits were paid, which strengthened the trust of the victims, but then the payments stopped and the money disappeared.
Tether, having the ability to freeze wallets, actively uses this mechanism to combat such crimes. Since 2024, 1,814 addresses have been blocked to prevent money laundering and their further use in illegal transactions.