Tether Assists US Secret Service in Freezing Illicit Funds

7 MARCH, 2025 – Tether, the leading company in the digital assets industry, announced today its assistance to the United States Secret Service (USSS) in freezing $23 million linked to transactions on the Russian-sanctioned exchange, Garantex.

Over the past year, Tether has collaborated with various law enforcement agencies, including the U.S. Department of Justice, in seizing $9 million in USDT from a pig butchering scam and $1.4 million from a tech support scam. Tether has blocked 2,090 wallets, coordinating with U.S. agencies on 960 of those. In three years, it has voluntarily frozen illicit USDT in over 900 law enforcement requests, with 460 from U.S. agencies, totaling over $2.5 billion tied to illicit activities, affirming its commitment to anti-money laundering (AML) efforts.

Collaborating with 235 law enforcement agencies across 55 jurisdictions, Tether employs a strict wallet-freezing policy to combat money laundering, nuclear proliferation, and terrorist financing. It aligns with the OFAC Specially Designated Nationals (SDN) List, targeting high-risk wallets associated with sanctioned individuals. Tether’s proactive measures enhance the detection and recovery of illicit funds, showcasing its dedication to public safety and regulatory compliance.

“Tether’s ability to track transactions and freeze USDT linked to illicit activity sets it apart from traditional fiat and decentralized assets,” said Tether CEO Paolo Ardoino. “We take our responsibility to combat financial crime seriously and will continue working closely with global law enforcement agencies to prevent bad actors from exploiting stablecoin technology.”

According to TRM Labs, illicit crypto transactions fell to $45 billion in 2024, just 0.4% of total crypto transaction volume. A joint effort between Tether, TRON, and TRM Labs through the T3 Financial Crime Unit successfully froze over $100 million in criminal assets in just the last four months of 2024.

Tether remains committed to fighting illicit activities and maintaining the integrity of the cryptocurrency ecosystem. By using advanced tracking tools, Tether improves law enforcement’s capabilities to trace USDT transactions across multiple blockchains, bolstering the global effort against illicit financial flows. For more information on Tether’s proactive measures, visit TetherFacts.