Tether, the leading stablecoin company, has announced that it has frozen 32 addresses containing $873,118 that are believed to be connected to illegal activities in Ukraine and Israel. This move is part of Tether’s ongoing efforts to combat cybercrime and ensure that digital assets are not used for illegal purposes. The company has worked closely with law enforcement agencies from 19 different jurisdictions to freeze over $835 million in proceeds from cybercrime. Tether’s CEO, Paolo Ardoino, emphasized that cryptocurrency transactions are not anonymous and can be traced on the blockchain, making it difficult for criminals to use digital assets for illegal activities. The growth of the cryptocurrency market has attracted the attention of regulators and law enforcement agencies worldwide, leading to increased efforts to crack down on illegal activities involving crypto assets. In July, Israel’s National Bureau for Counter-Terror Financing seized crypto assets belonging to Lebanon’s Hezbollah and Iran’s Quds Force, with the help of Chainalysis. The United States government has also taken action against privacy coins, such as Tornado Cash, in an effort to prevent money laundering and illicit activities. However, the demand for anonymity-focused digital assets, like Monero, has increased as a result of these seizures. Overall, Tether remains committed to promoting responsible blockchain technology use and serving as a defense against cybercrime.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Middle East
Countries	🇺🇦 🇮🇱 🇱🇧 🇺🇸
Sentiment	neutral
Relevance Score	1
People	Paolo Ardoino
Companies	Israel’s National Bureau for Counter-Terror Financing (NBCTF), Chainalysis, Coinbase, Monero, Tether
Currencies	Monero, Tether
Securities	None