Tether helps Canadian police recover stolen crypto

Tether recently assisted Ontario Provincial Police in recovering CAD$10,000 worth of stolen cryptocurrency.

This recovery was achieved thanks to Tether’s collaboration with the OPP’s Cyber ​​Investigation Team and demonstrates the company’s commitment to supporting law enforcement in the fight against cybercrime.

Tether responded to the OPP’s request by freezing the Tether (USDT) involved in the theft, allowing the digital assets to be returned to their rightful owners.

According to Tether’s press release, Detective Staff Sergeant Addison Hunter of the OPP acknowledged that Tether’s voluntary cooperation was necessary in recovering the stolen funds.

Tether has established itself as a partner of law enforcement in the fight against cybercrime, claiming to have assisted more than 195 law enforcement agencies in 48 countries.

Tether also announced on November 8 that it had completed its first financing transaction for a Middle East crude oil investment, expanding the company’s initiatives beyond cryptocurrency.

Will you be strapped in the hot seat?

Recently, on the legal front of the United States, Tether denied reports that the company was under investigation for anti-money laundering and sanctions law violations.

Manhattan prosecutors are reportedly investigating whether cryptocurrency Tether was involved in illegal activities. The US Treasury Department is also said to be considering sanctions against Tether, which could potentially limit America’s commercial relations with the company.

CEO Paolo Ardoino denied these allegations about X and dismissed the reports as “old noise”, claiming there was no sign of any investigation.