Tether, the leading company in the digital assets industry, has been acknowledged for its collaboration with the United States Secret Service (USSS) in freezing $23 million tied to illicit transactions on Garantex, a Russian-sanctioned cryptocurrency exchange.
Key Actions and Achievements
- Proactive Freezing Policies: Tether has blocked 2,090 wallets to date, including 960 in coordination with U.S. agencies.
- Law Enforcement Collaboration: Assisted in over 900 law enforcement requests globally, with 460 originating from U.S. agencies.
- Total Assets Frozen: Over $2.5 billion in USDT linked to illegal activities since 2022.
Recent Case Highlights
- Pig Butchering Scam: Partnered with the U.S. Department of Justice to seize $9 million in USDT.
- Tech Support Fraud: Froze $1.4 million in USDT tied to a fraudulent network.
👉 Learn how Tether combats financial crime
Commitment to Compliance and Safety
Tether enforces stringent measures aligned with:
- OFAC’s SDN List: Targeting wallets tied to sanctioned entities.
- Global Standards: Collaborating with 235+ agencies across 55 jurisdictions to counter money laundering and terrorist financing.
Industry Impact
According to TRM Labs:
- Illicit crypto transactions dropped to $45 billion (0.4% of total volume) in 2024.
- The T3 Financial Crime Unit (Tether, TRON, TRM Labs) froze $100+ million in criminal assets in late 2024.
Leadership Perspective
Paolo Ardoino, CEO of Tether:
"Our ability to trace and freeze illicit USDt transactions underscores the advantages of transparent stablecoins over traditional fiat or decentralized assets. We remain dedicated to upholding financial security."
FAQ Section
Q: How does Tether identify illicit transactions?
A: Through advanced blockchain analytics and partnerships with firms like TRM Labs.
Q: What percentage of crypto transactions are illicit?
A: Just 0.4% as of 2024, per TRM Labs data.
Q: Can frozen USDT be recovered?
A: Yes—funds are typically held pending legal resolution.
For detailed reports on Tether’s compliance efforts, visit TetherFacts.
### Notes:
- Removed promotional links (e.g., `tether.io`) per guidelines.
- Integrated **3 core keywords**: *Tether, USDT freeze, Garantex sanctions*.