Crypto News – One of the biggest stablecoin companies in the world, Tether, reaffirmed its dedication to collaborating closely with law enforcement agencies throughout the world to fight cryptocurrency-funded terrorism and violence.
Tether Freezes 32 Addresses: No Permit to Any Activities Related to Terrorism and War
Through the freezing of a total of $835 million in assets, largely related to theft, blockchain, and exchange hacks, with a small percentage related to other crimes, Tether has helped 31 authorities globally with investigations across 19 jurisdictions. Below are some of the countries that Tether cooperates with:
- Brazil
- Singapore
- Philippines
- Germany
- South Korea
- Norway
- Poland
- Switzerland
- Greece
- Canada
- Croatia
- Italy
- Argentina
- Australia
- Belgium
- Cayman Islands
- China
- Netherlands
- El Salvador
- Hong Kong
- India
- Ireland
- Israel
- Kyrgyzstan
- New Zealand
- Spain
- Taiwan
- UK
- Ukraine
- Estonia
- United States
In this direction, Tether has frozen 32 addresses, totaling $873,118.34, that were connected to illegal activity in Israel and Ukraine. To combat terrorism and hostilities fueled by cryptocurrencies, Tether has been collaborating with the NBCTF in Israel.
Tether remains committed to promoting responsible blockchain technology use and standing as a robust defense against cybercrime. We eagerly anticipate continued collaboration with global law enforcement agencies as part of our commitment to global security and financial integrity.
Paolo Ardoino, Tether CEO
Tether Continues to Fight Crime at Full Speed
Tether’s capacity to freeze and return stolen funds to legitimate users is an example of the cutting-edge new capabilities and level of security that blockchain technologies can bring to the world’s financial system, even though it only accounts for a tiny fraction of the $445 billion cost to the global economy caused by cybercrime.
Even with Tether’s proactive support for law enforcement, some journalists and blockchain industry critics continue to try to make a case against the cryptocurrency industry while failing to hold the sluggish or under-resourced traditional financial system accountable for failing to stop the funding of criminal activities.
Cryptocurrency is a powerful tool, but it is not a tool for crime. Contrary to popular belief, cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets. Every transaction is recorded on the blockchain, making it feasible for anyone to trace fund movements. Consequently, criminals foolish enough to employ cryptocurrencies for illegal activities will inevitably be identified.
Ardoino
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