Tether Credited by DOJ for Role in $52 Million Scam Network Enforcement Action

Tether, the largest company in the digital asset industry, has been recognized by the United States Department of Justice (DOJ) for its assistance in a major enforcement action against an international scam network. The DOJ's Scam Center Strike Force announced that over $52 million in cryptocurrency was restrained as part of a coordinated action against Xinbi Guarantee, a Chinese-language marketplace that allegedly provided services to scam centers and organized criminal groups worldwide.

The authorities allege that Xinbi operated through Telegram, connecting scam operators with vendors offering money laundering, fraudulent investment websites, and the recruitment of trafficking victims. Investigators traced funds belonging to U.S. victims to vendors operating through the network.

The DOJ specifically thanked Tether for its 'proactive assistance in this investigation.' As part of the action, authorities seized two cryptocurrency wallets used by Xinbi to collect vendor payments of approximately $12 million and sought the restraint of 47 additional wallets believed to be associated with money laundering activity.

Tether has built a longstanding track record of supporting law enforcement, collaborating with over 340 agencies across 67 countries in more than 2,800 cases globally. The company's efforts have contributed to the freezing of more than $5 billion in assets linked to illicit activity, including over $2.5 billion in cooperation with U.S. authorities.