{"id":4105,"date":"2024-02-07T03:58:12","date_gmt":"2024-02-07T03:58:12","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=4105"},"modified":"2024-02-07T03:58:12","modified_gmt":"2024-02-07T03:58:12","slug":"tether-confirms-ties-with-fbi-doj-and-secret-service","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/tether-confirms-ties-with-fbi-doj-and-secret-service","title":{"rendered":"Tether Confirms Ties With FBI, DOJ and Secret Service"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #223c50;color:#223c50\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #223c50;color:#223c50\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/digitalcoinprice.com\/blog\/tether-confirms-ties-with-fbi-doj-and-secret-service\/#Establishing_Trust_and_Transparency\" title=\"Establishing Trust and Transparency\">Establishing Trust and Transparency<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/digitalcoinprice.com\/blog\/tether-confirms-ties-with-fbi-doj-and-secret-service\/#Direct_Action_and_Providing_Valuable_Assistance\" title=\"Direct Action and Providing Valuable Assistance\">Direct Action and Providing Valuable Assistance<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/digitalcoinprice.com\/blog\/tether-confirms-ties-with-fbi-doj-and-secret-service\/#Fluid_Communication_and_Collaboration\" title=\"Fluid Communication and Collaboration\">Fluid Communication and Collaboration<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">Tether, the company behind the phenomenal rise of the USDT stablecoin, has publicly disclosed its commitment to robust security measures and collaboration with law enforcement agencies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In recent communications, Tether&#8217;s CEO, Paolo Ardoino, emphasized proactive measures, including the disabling of Tether tokens associated with OFAC-sanctioned wallets. This was confirmed by press releases by the U.S. Department of Justice in November 2023, underscoring how the company consistently aids law enforcement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the same time, Tether has also emphasised their unwavering support of cybercrime victims, who may have fallen prey to bad actors in the crypto space, actively supporting efforts to aid the recovery of assets.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Establishing_Trust_and_Transparency\"><\/span><b>Establishing Trust and Transparency<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Tether asserted its assistance to the Department of Justice, U.S. Secret Service, and FBI, resulting in the freezing of 326 wallets controlling 435 million USDT. Clarification was also made, indicating that the latest frozen wallets contained a reduced number of tokens compared to initial reports.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Highlighting ongoing efforts, Tether has successfully onboarded the United States Secret Service and is in the process of establishing collaboration with the FBI. These partnerships underscore Tether\u2019s commitment to close cooperation with law enforcement agencies for operational integrity and security.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Transparency remains a key focus, with Tether addressing specific letters to Senator Cynthia Lummis and committee members, aiming to provide clarity on interactions with law enforcement and adherence to regulatory standards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tether&#8217;s stance has helped to increase trust in the stablecoin, which is already popular among both consumers and vendors thanks to legitimate and reputable payment gateways like <\/span><a href=\"https:\/\/unipayment.io\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">UniPayment<\/span><\/a><span style=\"font-weight: 400;\">. These give buyers a choice of payment methods including Tether and several other cryptocurrencies.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Direct_Action_and_Providing_Valuable_Assistance\"><\/span><b>Direct Action and Providing Valuable Assistance<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Taking decisive action in recent months, Tether froze wallets linked to individuals sanctioned by the U.S. OFAC. This strategic move aligns with global law enforcement and regulatory initiatives, aiming to prevent potential token misuse and bolster overall security.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Blockchain data reveals Tether&#8217;s freeze of 161 Ethereum wallets, with 150 holding no USDT tokens. The remaining 11 wallets contain over 3.5 million USDT tokens, primarily concentrated in an address linked to a recent betting platform hack.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In an official statement issued via the <\/span><a href=\"https:\/\/tether.to\/en\/tether-assists-the-us-doj-and-us-secret-service-in-criminal-investigations-and-victim-recovery\/\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">Tether<\/span><\/a><span style=\"font-weight: 400;\"> website, CEO Paolo Ardoino insisted that his company will continue providing firm and resolute support for law enforcement agencies:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;Tether remains steadfast in its commitment to supporting law enforcement efforts and aiding victims in their recovery. We condemn the misuse of USDT or any cryptocurrency for illicit purposes and are fully committed to collaborating with global law enforcement agencies.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such a clear and unwavering commitment indicate a proactive approach by Tether, focused on directly combating nefarious activities. Taking such a stance not only enhances the reputation of USDT in the United States, but also globally, as the company seeks to make a positive contribution within the financial ecosystem surrounding digital assets.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Fluid_Communication_and_Collaboration\"><\/span><b>Fluid Communication and Collaboration<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Back in November last year, the U.S. Department of Justice praised the support it received from Tether during one particular investigation, which involved the seizure of almost $9 million worth of USDT stablecoins. These had been traced to a cryptocurrency address that had allegedly exploited victims through varied scams.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe department would like to acknowledge Tether for its assistance in effectuating the transfer of these assets,\u201d announced the <\/span><a href=\"https:\/\/www.justice.gov\/opa\/pr\/cyber-scam-organization-disrupted-through-seizure-nearly-9m-crypto\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">DOJ<\/span><\/a><span style=\"font-weight: 400;\"> on Tuesday, November 21, 2023, while highlighting the successful collaboration between various agencies and the company behind the USDT stablecoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On December 1, 2023, Tether launched its wallet-freezing policy, bringing forth a landmark initiative aimed at bolstering security and improving compliance, safeguarding users and enhancing the integrity of the wider stablecoin ecosystem. These important measures were addressed in letters to Senate and House committees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cTether is grateful for the opportunity to address the concerns raised by U.S lawmakers, and we are committed to continuing Tether\u2019s close work with law enforcement in the U.S. and globally. Tether seeks to be a world class partner to the U.S. as we continue to assist law enforcement and expand dollar hegemony globally,\u201d explained Tether CEO, Paolo Ardoino.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether, the company behind the phenomenal rise of the USDT stablecoin, has publicly disclosed its commitment to robust security measures and collaboration with law enforcement agencies.\u00a0 In recent communications, Tether&#8217;s CEO, Paolo Ardoino, emphasized proactive measures, including the disabling of Tether tokens associated with OFAC-sanctioned wallets. This was confirmed by press releases by the U.S. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4106,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-4105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-updates"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=4105"}],"version-history":[{"count":1,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4105\/revisions"}],"predecessor-version":[{"id":4107,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/4105\/revisions\/4107"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/4106"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=4105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=4105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=4105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}