Tether collaborated with the US Department of Justice to target Xinbi Guarantee, a network allegedly involved in money laundering and crypto fraud. The DOJ Scam Center Strike Force restrained over $52 million in cryptocurrency during the operation.
Authorities seized two wallets containing approximately $12 million in vendor payments and initiated the restraint of 47 additional wallets. Investigators linked the network, which operated via Telegram, to fraudulent investment sites and human trafficking recruitment.
Tether reports that it has worked with over 340 law enforcement agencies across 67 countries on more than 2,800 cases. These efforts have led to the freezing of over $5 billion in illicit assets, including $2.5 billion in cooperation with US authorities.
Recent enforcement actions involving Tether include the freezing of $225 million tied to human trafficking, $61 million linked to investment fraud, and $344 million in coordination with OFAC. The company intends to continue assisting law enforcement in recovering criminal assets.
