Tether works with US authorities to block $344 million in illicit USDT flows

Tether announced it has frozen more than $344 million worth of USDT in collaboration with US law enforcement agencies, including the Office of Foreign Assets Control (OFAC). This action targeted two wallet addresses identified as being linked to sanctions evasion and criminal networks. Tether stated its commitment to a zero-tolerance policy for illicit use of its stablecoin and regularly consults OFAC's Specially Designated Nationals list. CEO Paolo Ardoino emphasized that USDT is not a safe haven for illicit activities and that Tether acts swiftly upon identifying credible links to sanctioned entities or criminal networks. The company also highlighted its extensive cooperation with over 340 law enforcement bodies globally, which has aided in more than 2,300 investigations, with a significant portion involving US authorities. The total value of frozen assets by Tether now exceeds $4.4 billion, with over $2.1 billion linked to American authorities. Previously, the US Department of Justice acknowledged Tether's role in operations that resulted in the seizure of millions of dollars related to "pig butchering" fraud schemes.

(Source：Crypto Briefing)