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US Department of Justice, FBI seize $1.4 million in USDT in fraud case, Tether provides crucial assistance

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US Department of Justice, FBI seize $1.4 million in USDT in fraud case, Tether provides crucial assistance

Tether assists the U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) in recovering 1.4 million USDT in an online fraud case, emphasizing its commitment to ongoing collaboration with law enforcement agencies worldwide.

Elderly Americans Scammed, Wallet Emptied After Purchasing USDT

According to a statement from the U.S. Department of Justice, the FBI has uncovered an online scam where victims were targeted through pop-up windows on their computers, instructing them to contact fake Microsoft or Apple customer service representatives.

The fake customer service agents convinced victims to convert their fiat currency into cryptocurrency under the guise of bank account disclosure and preventing further hacking, and then transfer the funds to a non-custodial cryptocurrency wallet controlled by the scam group, with most victims being elderly individuals, as stated by the Department of Justice.

The FBI traced back to 5 related illegal addresses through blockchain data and obtained seizure orders to freeze the funds, with assistance from Tether during the seizure process.

Related scam addresses

Tether: Continuing Collaboration with Global Law Enforcement Agencies

Tether stated that it played a crucial role in assisting the U.S. Department of Justice and the FBI in seizing 1.4 million USDT and has returned the funds to the victims, with acknowledgment from the Department of Justice for Tether's assistance.

CEO Paolo Ardoino emphasized the importance of collaborating with the U.S. government to combat financial fraud related to cryptocurrencies, expressing pride in the collaboration and pledging to work with global law enforcement agencies to create a safer environment in the future.