Tether recently assisted the Ontario Provincial Police in recovering $10,000 CAD worth of stolen cryptocurrency.
This recovery was achieved through Tether’s collaboration with the OPP’s Cyber Investigations Team, showcasing the company’s commitment to supporting law enforcement in combating cybercrime.
Tether responded to the OPP’s request by freezing the Tether (USDT) involved in the theft, which allowed the digital assets to be returned to their rightful owner.
Detective Staff Sergeant Addison Hunter of the OPP acknowledged Tether’s voluntary cooperation as essential in recovering the stolen funds, according to Tether’s press release.
Tether has established itself as a partner to law enforcement in tackling cybercrime, claiming it has aided over 195 law enforcement agencies across 48 countries.
Tether also announced on November 8 that it had completed its first funding transaction in a Middle East crude oil investment, expanding the company’s ventures beyond just crypto.
Tether in the hot seat?
Recently, on the United States legal front, Tether denied reports that the company was under investigation for anti-money-laundering and sanctions law violations.
Manhattan prosecutors were reportedly investigating whether Tether’s cryptocurrency had been involved in illegal activities. The U.S. Treasury Department was also said to be considering sanctions on Tether, which could potentially limit American business dealings with the company.
Ceo Paolo Ardoino rejected these claims on X, asserting there was no indication of an investigation and calling the reports “old noise.”
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