The US Justice Department Confiscates $9 Million in USDT Among $225 Million in Frozen Illicit Funds by Tether

The US Justice Department Confiscates $9 Million in USDT Among $225 Million in Frozen Illicit Funds by Tether

Tether (USDT) Seizure by USDOJ

The United States Department of Justice confiscated $9 Million worth of Tether (USDT) 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 United States Government acknowledged Tether’s (USDT) help in transferring the assets. The Justice Department likewise mentioned intends to announce whole lot of digital currency enforcement actions in partnership with the United States Treasury and Commodity Futures Trading Commission.

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United States Official Actions

The United States Government has previously confiscated illicit funds tied to cryptocurrency scams and crimes, such as the control of 70,000 Bitcoin (BTC) linked to Silk Road in 2020, and reported holdings of over $5 Billion in cryptocurrency as of October. This may align with the ongoing efforts to combat crypto-related offenses and secure regulatory compliance.

Hot Take

The United States Department of Justice’s seizure of $9 Million in Tether (USDT) sends a strong message to criminals engaging in crypto-related scams. It likewise outlines the growing participation between the Government and cryptocurrency organizations to combat illicit activities in the digital asset space.

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