Tether Takes Swift Action Against Phishing Scams by Freezing $5.2M in USDT

Tuesday, 14 May 2024, 12:25
Tether has blocked $5.2 million in USDT connected to online scams, demonstrating its proactive approach in battling cybercrime. This move showcases Tether's dedication to maintaining the legitimacy of its stablecoin amidst security challenges. Despite facing criticism, Tether's commitment to transparency and risk management practices sets an industry standard.
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Tether Takes Swift Action Against Phishing Scams by Freezing $5.2M in USDT

Tether's Stance Against Cybercrime

Tether has taken a decisive stance against cybercrime by freezing $5.2 million in USDT connected to phishing scams.

Crypto-Related Crimes

MistTrack, a crypto-tracking platform by SlowMist, discovered and confirmed the freeze on 12 addresses exhibiting illicit activities.

Development:
  • The freeze highlights Tether's proactive measures in safeguarding its stablecoin.
  • The company emphasizes transparency and accountability in its operations.
  • Despite controversies and scrutiny, Tether's reliability remains a topic of debate in the financial space.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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