Tether Assists Royal Thai Police and U.S. Secret Service in Seizing $12 million in Transnational Fraud Funds

Tether today announced that it has successfully assisted the Royal Thai Police and the US Secret Service in an international joint operation to track down and seize approximately 12 million USDT (worth approximately 400 million baht) of digital assets linked to a large multinational fraud network active in South East Asia. The operation, led by Thailand's Technology Crime Suppression Department (TCSD), resulted in the arrest of 73 suspects (including 51 Thai citizens and 22 foreigners) and the seizure of assets worth more than 522 million baht. Paolo Ardoino, CEO of TEDA, said the operation highlights how blockchain transparency empowers law enforcement agencies to effectively fight crime. TEDA has worked with more than 290 law enforcement agencies in 59 jurisdictions around the world to freeze more than $3.20 billion in assets related to illegal activities, and will continue to work to promote transparency and security in the digital asset space.