Tether's Role in Combating Financial Crimes
Tether has solidified its role as a major player in global crime prevention, assisting both Thai and U.S. authorities in seizing $12 million in USDT. This operation targeted a large-scale online scam network operating across Southeast Asia. Thailand’s Technology Crime Suppression Division led the effort, resulting in the arrest of 73 individuals, including Thai and foreign nationals. In addition to the USDT, over 522 million baht in assets linked to the fraud scheme were seized.
Tether played a critical role in this operation by utilizing its monitoring systems to help trace and freeze wallet activities associated with the illicit funds. Its blockchain technology enables law enforcement to quickly track and identify suspicious transactions, providing a valuable tool in combating financial crimes.
Tether’s Expanding Role in Global Financial Crime Prevention
This $12 million seizure is a testament to Tether’s growing involvement in global crime prevention. The company has been actively working with law enforcement agencies to trace and block illicit funds. To date, Tether has frozen more than $3.2 billion in illicit assets, blocking over 3,660 wallets involved in various criminal activities.
Tether’s efforts have earned recognition from the U.S. Department of Justice. In one notable case, the company helped seize $225 million USDT from a global trafficking ring. It has also helped freeze millions of dollars tied to sanctioned exchanges, such as $23 million USDT connected to Garantex and $9 million from the Bybit hack.
With more than 290 law enforcement agencies across 59 jurisdictions now working with Tether, the company has proven itself a key partner in the fight against illicit finance. By providing the tools to track, freeze, and seize illicit assets, Tether continues to support the global effort to regulate cryptocurrency crimes.
Tether’s Strategic Expansion into Digital Asset Markets
Beyond crime prevention, Tether is also strengthening its market position through a new partnership with Singapore-based Antalpha Platform Holding. Together, they plan to raise $200 million for a new Digital Asset Treasury (DAT) company. This effort will focus on acquiring Tether’s XAUT token, which is backed by gold, enhancing its liquidity and value.
Antalpha, closely linked to Bitmain Technologies, a leading crypto mining equipment supplier, will help bolster Tether’s influence in the digital asset market. Through this partnership, Tether aims to diversify its offerings and expand its role in the evolving cryptocurrency landscape.