Tether Seizure by USDOJ
The US Department of Justice seized $9 million worth of Tether due to a criminal organization involved in romance scams, with Tether’s help in freezing $225 million worth of USDT.
The funds were traced through different wallet addresses and exchanges, and the US government acknowledged Tether’s help in transferring the assets. The Justice Department also mentioned plans to announce significant cryptocurrency enforcement actions in partnership with the US Treasury and Commodity Futures Trading Commission.
US Official Actions
The US government has previously seized illicit funds tied to crypto scams and crimes, such as the control of 70,000 Bitcoin linked to Silk Road in 2020, and reported holdings of over $5 billion in crypto as of October. This may align with the ongoing efforts to combat crypto-related offenses and ensure regulatory compliance.
Hot Take
The US Department of Justice’s seizure of $9 million in Tether sends a strong message to criminals engaging in crypto-related scams. It also highlights the growing cooperation between the government and crypto organizations to combat illicit activities in the digital asset space.
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