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In a landmark operation, the U.S. Justice Department has successfully seized a hefty $9 million in USDT, Tether's cryptocurrency pegged to the U.S. dollar. This bold move unveils a complex web of deceit involving more than 70 unsuspecting victims, ensnared in what's known as “pig butchering” scams.
In a recent development, Tether, the company associated with the USDT stablecoin, has made headlines by taking proactive measures involving the freezing of approximately $200 million worth of stablecoins.
The Justice Department said the funds were stolen from over 70 victims who fell prey to a relationship scam, adding that USDT issuer Tether aided the seizure.
The U.S. Justice Department has seized nearly $9 million in Tether, a cryptocurrency closely tied to the U.S. dollar. This significant move targets an organization allegedly linked to widespread romance and cryptocurrency scams, often referred to as “pig butchering,” affecting over 70 victims.
Cryptocurrency markets are abuzz as a prominent whale makes yet another substantial withdrawal from the Tether Treasury. In this latest move, the whale has taken out 96 million USDT and subsequently deposited it into prominent exchanges, namely OKX, Kraken, and Coinbase.
Officials reported the seizure was tied to an organization responsible for “pig butchering” romance scams.
The Justice Department announced the seizure of $9 million worth of Tether. The organization behind the seized funds allegedly exploited over 70 victims through romance scams and cryptocurrency confidence scams, also known as “pig butchering.
The U.S. Department of Justice (DOJ) has seized $9 million worth of the USDT stablecoin linked to organizations that exploited victims through "pig butchering" scams.
Tether, the largest company in the cryptocurrency ecosystem, and leading global crypto exchange and Web3 technology company OKX, announced that they have assisted the United States Department of Justice (DOJ) in an investigation that “led to Tether proactively and voluntarily freezing approximately 225 million in
Tether, the USDT stablecoin issuer, deposited approximately $1 billion into the U.K. subsidiary of Britannia Financial Group in November 2021, Financial Times reported today, Nov. 21, citing court documents. This revelation emerged amid the ongoing legal clash between Britannia Financial Group and Arbitral International.
Tether's bank partner Britannia is reportedly facing a lawsuit over claims it failed to pay the full price of revenue-generating assets allegedly related to a deposit from Tether.
Tether deposited $1B+ in Britannia Financial subsidiary and now there's an ongoing legal battle in London High Court over the Bahamas brokerage sale.
Binance transferred $3.9 billion USDT between its wallets, days before a report about a $4 billion settlement with the United States Justice Department was published.
According to a recent report, Tether, the issuer of the world's largest stablecoin, finds itself at the heart of a legal dispute in London's High Court. The case revolves around a hefty sum of over $1 billion deposited by Tether with Britannia Global Markets, a subsidiary of the prominent investment bank Britannia Financial.
Tether, a prominent stablecoin issuer, has become embroiled in a legal dispute in London's High Court. According to a report by the Financial Times, Tether deposited over $1 billion with a subsidiary of investment bank Britannia Financial.
The largest stablecoin issuer Tether deposited more than $1 billion with a firm currently at the center of a legal battle in London's High Court.
Stablecoin issuer Tether has frozen $225 million worth of stolen USDT following a collaboration with the United States Department of Justice and crypto exchange OKX. The USDT was linked to a human trafficking syndicate operating in Southeast Asia and was frozen following an investigation by the Department of Justice.
In the largest-ever freeze of USDT stablecoin assets, Tether has blocked $225 million in stolen funds traced to an international human trafficking syndicate orchestrating pig butchering crypto romance scams globally.
Tether has deposited over $1 billion with a subsidiary of investment bank Britannia Financial, according to court filings.
Tether deposited the funds with a subsidiary of investment bank Britannia Financial, according to the report, which cited filings made in the High Court.
Tether voluntarily froze 225 million USDT tokens. The funds were linked to a global crime syndicate known for carrying out pig butchering scams.
Tether has decided to voluntarily freeze 225 million USDT linked to a criminal association. This decision comes after assisting the U.S. Department of Justice (DOJ), along with crypto-exchange OKX.
Tether has announced the “largest-ever freeze of USDT in history.” In collaboration with crypto exchange Okx, Tether froze $225 million in USDT following an investigation by the U.S. Department of Justice (DOJ). The tokens were allegedly linked to an international human trafficking syndicate in Southeast Asia responsible for a global “pig butchering” crypto scam.
The firm behind USDT has voluntarily frozen over $200 million worth of stablecoins to assist the U.S. Department of Justice (DOJ). In a new announcement, Tether says they are freezing $225 million in USDT funds in certain Southeast Asian wallets allegedly connected to “pig-butchering” romance scams.
