{"id":463610,"date":"2024-09-27T09:27:27","date_gmt":"2024-09-27T09:27:27","guid":{"rendered":"https:\/\/Blockchain.News\/news\/tether-assists-major-crypto-money-laundering-bust"},"modified":"2024-09-27T09:27:27","modified_gmt":"2024-09-27T09:27:27","slug":"tether-assists-in-major-crypto-money-laundering-bust-with-dutch-authorities-and-u-s-secret-service","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/27\/tether-assists-in-major-crypto-money-laundering-bust-with-dutch-authorities-and-u-s-secret-service\/","title":{"rendered":"Tether Assists in Major Crypto Money Laundering Bust with Dutch Authorities and U.S. Secret Service"},"content":{"rendered":"
\n

Zach Anderson<\/a> Sep 27, 2024 09:27<\/span> <\/p>\n

Tether aids Dutch FIOD, NHCTU, and U.S. Secret Service in dismantling cryptocurrency exchanges involved in money laundering.<\/p>\n

\"Tether <\/a> <\/figure>\n

In a significant collaborative effort, the Dutch Fiscal Information and Investigation Service (FIOD), the National High Tech Crime Unit (NHCTU) of the Netherlands Police, and the United States Secret Service successfully dismantled two major cryptocurrency exchanges suspected of facilitating money laundering activities. According to tether.io<\/a>, Tether, a leading company in the digital assets industry, played a crucial role in this operation by actively assisting authorities and freezing substantial amounts of cryptocurrency.<\/p>\n

Details of the Investigation<\/h2>\n

The exchanges, identified as Cryptex and pm2btc, were investigated for laundering funds tied to criminal activities, including ransomware attacks. These platforms enabled criminals to convert cryptocurrencies into national currencies through Dutch infrastructure. Initially separate investigations, the cases were merged and led by the FIOD with support from NHCTU and Amsterdam police\u2019s cybercrime team.<\/p>\n

Law Enforcement Collaboration<\/h2>\n

Law enforcement agencies, in collaboration with Tether and Chainalysis, managed to freeze cryptocurrency worth \u20ac7 million, marking a significant victory in the fight against financial crime. Tether also froze various wallets recently added to the Specially Designated Nationals (SDN) List in connection with Cryptex. These actions highlight Tether\u2019s proactive efforts to secure the financial ecosystem and prevent the misuse of stablecoins. The FIOD, in its announcement, acknowledged Tether and Chainalysis for their \u201cclose\u201d collaboration in securing these assets.<\/p>\n

Tether\u2019s Commitment to Security<\/h2>\n

Paolo Ardoino, CEO of Tether, emphasized the company\u2019s dedication to supporting global law enforcement in combating the illicit use of cryptocurrencies. \u201cTether is unwavering in its commitment to support global law enforcement in the fight against the illicit use of cryptocurrencies. We strongly oppose any criminal exploitation of digital assets and pledge our continued collaboration with law enforcement agencies worldwide to uphold the security, trust, and integrity of the digital finance space,\u201d Ardoino stated.<\/p>\n

Track Record of Law Enforcement Support<\/h2>\n

Tether\u2019s proactive approach to assisting law enforcement reflects its dedication to transparency and accountability in the cryptocurrency sector. To date, Tether has worked with over 180 law enforcement agencies across 45 jurisdictions and has blocked more than $1.8 billion in assets linked to illicit activities, aiding in the recovery of funds and protection of the broader financial ecosystem.<\/p>\n

This operation underscores the importance of cooperation between private companies and law enforcement agencies in tackling financial crimes in the digital age.<\/p>\n

Image source: Shutterstock<\/i><\/span> Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Zach Anderson Sep 27, 2024 09:27 Tether aids Dutch FIOD, NHCTU, and U.S. Secret Service in dismantling cryptocurrency exchanges involved in money laundering. In a significant collaborative effort, the Dutch Fiscal Information and Investigation Service (FIOD), the National High Tech Crime Unit (NHCTU) of the Netherlands Police, and the United States Secret Service successfully dismantled […]<\/p>\n","protected":false},"author":1,"featured_media":463611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[194,613,25,515],"class_list":{"0":"post-463610","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blockchain","8":"tag-cryptocurrency","9":"tag-money-laundering","10":"tag-news","11":"tag-tether"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=463610"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/463611"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=463610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=463610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=463610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}