2023-12-18 08:04:27
Tether has frozen a total of 435 million USDT in 326 wallets during cooperation with US law enforcement agencies. The stablecoin issuing company demonstrates its commitment to security by working with bodies such as iDepartment of Crime, the Federal Bureau of Investigation (FBI), and the US Secret Service.
In a recent letter shared with US lawmakers, the CEO of the company behind the USDT stablecoin detailed his methods of prevent unwanted persons from using USDT.
Tether published those at lettersin which he outlines his commitment to security and his close working relationship with law enforcement.
In the latest letter, Tether CEO Paolo Ardoino – who recently took over the company’s helm – emphasized Tether’s recent decision to freeze Tether tokens in all wallets on the Office of Foreign Assets Control (OFAC) sanctions list.
Ardoino also announced that Tether recently added the US Secret Service to their platform and is in the process of doing the same for the FBI.
The letters were addressed to Senator Cynthia Lummis, who is known as a crypto-friendly figure in the sphere. It was also sent to the US Senate Banking, Housing and Urban Affairs Committee and the US House Financial Services Committee.
Tether’s commitment to security
Tether’s cooperation with law enforcement extends to global levels. The company 19 jurisdiction has been involved in supporting law enforcement agencies in investigations related to illicit activities, including terrorist financing. These efforts led to the freezing of significant amounts of USDT, especially USDT amounts associated with thefts and hacks.
Tether cooperated with the Israeli once morest the financing of terrorism agency, the NBCTF, to identify and freeze portfolios associated with Hamas and other terrorist organizations. The stablecoin issuer said its relationship with the NBCTF began before the October attack and that it continues to work with the agency to prevent illicit use of USDT.
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