Tether’s Role in Law Enforcement Operations
Tether, a prominent player in the cryptocurrency space, has aided law enforcement agencies in both Thailand and the United States in a significant operation that culminated in the seizure of $12 million worth of USDT. This initiative, which has led to the arrest of 73 suspects involved in an extensive transnational scam ring operating throughout Southeast Asia, was announced in a press release on November 13.
Details of the Operation
The operation was orchestrated by Thailand’s Technology Crime Suppression Division in partnership with the U.S. Secret Service. As a result of their coordinated efforts, authorities apprehended 51 Thai nationals along with 22 foreign individuals and confiscated additional assets estimated at more than 522 million baht.
Blockchain Intelligence and Transparency
Tether’s provision of blockchain intelligence played a crucial role, enabling officials to track the illicit movement of the USDT across digital platforms. Tether’s CEO, Paolo Ardoino, emphasized the event’s significance, stating:
“This operation highlights how blockchain transparency can empower law enforcement to act quickly and effectively against criminal activity.”
He reaffirmed Tether’s commitment to aiding global law enforcement in freezing illegal assets and protecting victims, ensuring that USDT remains a transparent instrument in international trade.
Broader Trends in Tether’s Cooperation
This action in Southeast Asia is part of a broader trend in Tether’s increasing cooperation with law enforcement worldwide. Over the past year, the firm has participated in several high-stakes operations targeting illegal cryptocurrency flows. Recently, the U.S. Department of Justice recognized Tether’s involvement in a major case leading to the seizure of nearly $225 million in USDT.
Additionally, in March, Tether responded to requests from the U.S. Secret Service by immobilizing $23 million tied to transactions through the sanctioned crypto platform Garantex. That same month, the company acted to freeze another $9 million connected to a cyberattack on the Bybit exchange.
Proactive Measures Against Cybercrime
Further highlighting their proactive stance, Tether has reported freezing over 3,660 cryptocurrency wallets at the behest of law enforcement, including 2,100 cases directly coordinated with various agencies in the United States. According to the company, they have collaborated with more than 290 law enforcement bodies across 59 jurisdictions, showcasing their extensive commitment to combating cybercrime in the cryptocurrency realm.
