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International Business Times

Business

Marvie Basilan

Tether Helps US Retrieve $1.4 Million Worth USDT From Customer Support Scam

Tether United States DOJ Bitcoin Crypto Bitcoin Foundation FBI

Smartphone with Tether logo is placed on displayed U.S. dollars in this illustration taken, May 12, 2022. (Credit: Reuters / DADO RUVIC)

KEY POINTS

Tether said the scam network mostly targeted elderly people in the U.S.
The perpetrators converted the elderly's funds into crypto then moved them to virtual wallets
The DOJ acknowledged Tether's assistance in retrieving the stolen funds

Stablecoin giant Tether assisted the U.S. Department of Justice (DOJ) and Federal Bureau of Investigation (FBI) in the recent seizure of approximately $1.4 million worth of Tether (USDT) tokens from a tech support scam network.

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