Tether Recovers $118 Million in Illicit Funds through Collaboration with Global Law Enforcement

IconCryptoNewsTerminal Staff23 Aug, 2024

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Tether Recovers $118 Million in Illicit Funds through Collaboration with Global Law Enforcement

Tether, the leading stablecoin provider, has collaborated with law enforcement agencies across 145 countries to recover over $118 million USDT in illicit funds since 2014. This collaboration demonstrates Tether's commitment to combating financial crime and safeguarding its platform. Tether has implemented strict anti-money laundering and know-your-customer procedures, leading to the blacklisting of over 1,900 addresses associated with illicit activities. By working closely with regulators and law enforcement worldwide, Tether plays a vital role in countering money laundering, terrorism financing, and other financial crimes within the cryptocurrency ecosystem.