Tether just helped claw back over $100 million in USDT linked to scams. The U.S. Department of Justice (DOJ) confirmed the stablecoin issuer’s role in helping law enforcement seize nearly $5 million in stolen USDT.&nbsp;
The funds were tied to a scam called “pig butchering,” which lures people into fake relationships to scam them out of their money.&nbsp;
Victims are tricked into thinking they’re investing in a legit crypto platform, but it’s all fake. These scammers are good—they set up sites that look real, show fake profits, and get people to keep dumping in their cash.&nbsp;
When victims try to get their money out, they’re hit with fake fees or penalties. Tether stepped in by helping the FBI freeze a bunch of wallets tied to this fraud. The Feds needed Tether to track down where the stolen money was going.&nbsp;
Tether’s CEO, Paolo Ardoino, said:&nbsp;
<blockquote>
 “Tether remains resolute in its mission to support global law enforcement efforts in combating illicit uses of cryptocurrency.”
</blockquote>
U.S. Attorney Michael Easley pointed out that people are losing everything, sometimes their entire retirement savings, to these fraudsters. In <a href="https://www.justice.gov/usao-ednc/pr/investment-fraud-disrupted-seizure-5-million-cryptocurrency" rel="noopener noreferrer nofollow" target="_blank">his</a> words:
<blockquote>
 “Americans are losing their life’s savings to investment frauds as funds are being rapidly transferred to cryptocurrency accounts overseas.”
</blockquote>
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Tether recovered over $100M from Illicit USDT activities

Cryptopolitan_News

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