Tether Helps DOJ Freeze $52M in Crypto Linked to Scam Network

Tether, a leading stablecoin issuer, has assisted the U.S. Department of Justice in restraining over $52 million in cryptocurrency linked to Xinbi Guarantee, a network accused of supporting scam centers and organized crime.

The authorities seized two wallets containing approximately $12 million and sought restraints on 47 others as part of a coordinated action targeting Xinbi Guarantee, which allegedly operated primarily through Telegram to connect scam groups with service providers.

Tether has cooperated with law enforcement agencies in hundreds of investigations involving illicit cryptocurrency activity, contributing to the freezing of more than $5 billion in assets linked to suspected criminal activity worldwide.