In a major announcement today, March 7, 2025, Tether, a leading name in the digital assets industry, revealed its crucial assistance to the United States Secret Service (USSS) in freezing a substantial $23 million in illicit funds. These funds are connected to transactions made on Garantex, a Russian-sanctioned exchange.

This recent operation is just one example of Tether’s ongoing commitment to combating illicit finance. In the past year, they’ve also partnered with the U.S. Department of Justice and the USSS to successfully seize $9 million in USDT connected to a ‘pig butchering’ scam, and another $1.4 million in USDT from a tech support scam ring. Zooming out, Tether has been proactively working with law enforcement, blocking a total of 2,090 wallets – with 960 of these actions coordinated with U.S. agencies. For over three years, Tether has answered over 900 law enforcement requests to freeze illicit USDT, with nearly half coming from U.S. agencies. These efforts underscore Tether’s strong stance against money laundering, with over $2.5 billion in USDT linked to illegal activities frozen to date.

Tether’s commitment is backed by robust policies. They collaborate with over 235 law enforcement agencies across 55 countries, implementing a strict wallet-freezing policy to tackle money laundering, nuclear proliferation, and terrorist financing. Furthermore, Tether aligns with the OFAC Specially Designated Nationals (SDN) List, targeting wallets connected to sanctioned individuals and high-risk activities. These decisive actions from Tether have been instrumental in quickly identifying and recovering illicit funds, showcasing their dedication to public safety, financial security, and regulatory compliance.

Paolo Ardoino, CEO of Tether, emphasized the company’s capabilities and dedication, stating, “Tether’s ability to track transactions and freeze USDt linked to illicit activity sets it apart from traditional fiat and decentralized assets. 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.”

Data from TRM Labs further underscores the effectiveness of these efforts. In 2024, illicit crypto transactions decreased to $45 billion, a mere 0.4% of the total crypto transaction volume. Furthermore, in a powerful demonstration of collaboration, the T3 Financial Crime Unit – a joint initiative by Tether, TRON, and TRM Labs – successfully froze over $100 million in criminal assets in just the last four months of 2024.

Looking ahead, Tether is unwavering in its commitment to fighting illegal activities and ensuring the cryptocurrency ecosystem remains secure and trustworthy. Their use of advanced tracking technology significantly improves law enforcement’s ability to follow USDt transactions across different blockchains, bolstering the global fight against illicit financial flows. Want to learn more about Tether’s proactive stance and initiatives? Visit TetherFacts.