Tether provided blockchain information to Thai and US agents, enabling the seizure of $12 million in USDT and the arrest of 73 individuals connected to a sprawling transnational scam network operating in Southeast Asia.
Summary
- Tether helped Thai and US authorities seize $12 million in USDT through a transnational scam.
- Seventy-three people were arrested and more assets worth more than 522 million baht were recovered.
According to one press release The operation, dated November 13, was led by Thailand’s Technology Crime Suppression Division, which worked with the US Secret Service.
The coordinated effort led to the arrest of 73 people, including 51 Thai nationals and 22 foreigners, and the seizure of additional assets worth more than 522 million baht. Tether said its involvement provided important blockchain analysis that allowed authorities to track the movement of the stolen USDT on the digital ledger.
“This operation highlights how blockchain transparency can enable law enforcement to act quickly and effectively against criminal activity,” said Paolo Ardoino, CEO of Tether. “We are committed to supporting law enforcement agencies around the world in freezing illicit assets, protecting victims and ensuring USDT continues to serve as a transparent tool for global trade.”
The continuing role of Tether
Tether’s involvement in the Southeast Asia seizure builds on a broader pattern of cooperation with law enforcement agencies worldwide. Over the past year, the company has supported several high-profile operations aimed at halting illicit flows of digital assets.
In June, the US Department of Justice publicly acknowledged Tether’s assistance in a landmark case that led to the seizure of approximately $225 million in USDT. The partnership deepened last March, with Tether acting at the request of the US Secret Service to immobilize $23 million in illicit funds linked to transactions on sanctioned crypto exchange Garantex.
That same month, the company also decided to freeze another $9 million directly related to the sophisticated attack on the Bybit exchange. The extent of this behind-the-scenes work is further illustrated by Tether’s disclosure that it has now blocked more than 3,660 wallets at the request of law enforcement, with 2,100 cases conducted in direct coordination with various US agencies.
According to the press release, Tether has provided support to more than 290 law enforcement agencies in 59 different jurisdictions.
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