Tether Aids DOJ in Freezing Over $52 Million in Digital Assets

Tether, the issuer of the USDT stablecoin, has played a key role in helping the U.S. Department of Justice crack down on an international digital-asset fraud network.

The operation targeted Xinbi Guarantee, a Chinese-language online marketplace, which allegedly used Telegram to operate fraud rings and money-laundering services, while facilitating crypto-based money laundering and investment scams.

U.S. authorities seized about $12 million from two digital-asset wallets linked to Xinbi Guarantee and moved to freeze 47 wallets believed to be tied to money-laundering activity.

The total value of digital assets frozen in a single day exceeded $52 million, according to Tether.