In a recent operation, the Ontario Provincial Police (OPP) recognized Tether\u2019s rapid assistance in recovering stolen funds, marking a positive moment for the stablecoin issuer. Tether, a leader in stablecoin transactions, worked with the OPP\u2019s Cyber Investigations Team to track and freeze about 10,000 CAD (approximately $7,186) in Tether stablecoins taken from an individual. Thanks to Tether\u2019s cooperation, the funds have been returned to the victim.<\/p>\n\n\n\n
Addison Hunter, detective staff sergeant with the OPP, emphasized the importance of Tether\u2019s role, stating, \u201cWith the voluntary assistance and cooperation of Tether International Ltd., the stolen digital assets were successfully seized and returned to the victim. This collaboration was instrumental in ensuring the swift recovery of the assets.\u201d Tether CEO Paolo Ardoino also echoed this sentiment, underscoring the company\u2019s commitment to \u201csupporting law enforcement efforts to combat cybercrime\u201d and reaffirmed Tether\u2019s resolve to \u201chold bad actors accountable and support victims.\u201d<\/p>\n\n\n\n
Tether has a long history of working with law enforcement to freeze funds involved in illicit activities. In July 2020, for example, Tether blocked 39 Ethereum addresses linked to approximately $46 million in Tether (USDT), which law enforcement viewed as a \u201cprecautionary\u201d step against potential illegal activities. Later, in September 2020, Tether collaborated with crypto exchange Bitfinex to freeze more than $33 million in USDT stolen during a hack on the KuCoin exchange.<\/p>\n\n\n\n
In early 2022, Tether continued this practice by freezing $150 million in USDT across 312 addresses. Although specific reasons were not publicly detailed, the freeze demonstrated Tether\u2019s ongoing commitment to responding quickly to suspected criminal activity in the digital asset space.<\/p>\n\n\n\n
In December 2023, Tether announced a policy to freeze wallets connected to individuals and entities sanctioned by the U.S. Office of Foreign Assets Control (OFAC). The decision followed mounting pressure from U.S. lawmakers who expressed concerns over the misuse of stablecoins in illicit financing. This policy marked a proactive step by Tether to enforce global sanctions and help address potential misuse in terrorism financing.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a recent operation, the Ontario Provincial Police (OPP) recognized Tether\u2019s rapid assistance in recovering stolen funds, marking a positive moment for the stablecoin issuer. Tether, a leader in stablecoin transactions, worked with the OPP\u2019s Cyber Investigations Team to track and freeze about 10,000 CAD (approximately $7,186) in Tether stablecoins taken from an individual. Thanks […]<\/p>\n","protected":false},"author":6,"featured_media":2284,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[259,43],"tags":[],"class_list":["post-12203","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins","category-general-news"],"acf":[],"yoast_head":"\n