Tether Freezes Record $544M in Turkish Betting Probe Amid Growing Law Enforcement Role

Tether's USDT stablecoin has frozen $544 million in assets at the request of Turkish authorities, as part of an investigation into alleged underground betting networks and money laundering operations. This represents one of Tether's largest single enforcement actions, and is part of a broader crackdown by Turkish law enforcement that has already frozen over $1 billion in assets.

Tether CEO Paolo Ardoino confirmed the company's cooperation with Istanbul prosecutors, stating they acted 'in respect of the laws of the country' after receiving information from law enforcement. Tether has assisted in more than 1,800 investigations across 62 countries, resulting in $3.4 billion in frozen USDT connected to alleged criminal activity.

The company's cooperation with authorities contrasts with ongoing scrutiny of USDT's role in illicit finance. U.S. prosecutors recently charged a Venezuelan national with laundering $1 billion largely using USDT, while blockchain researchers have linked large USDT transactions to sanctions-evasion networks.