Tether Helps Turkey Seize $544 Million in Crypto Tied to Illegal Betting
Stablecoin issuer claims to have assisted law enforcement in 1,800 cases globally
The seizure represents one of the largest crypto enforcement actions in Turkey's history. Tether claims it has now cooperated with law enforcement in over 1,800 cases across 62 countries, freezing a total of $3.4 billion in USDT tied to suspected illicit activity.
The operation highlights the growing cooperation between cryptocurrency companies and law enforcement, as well as the ability to trace and freeze digital assets despite the technology's reputation for anonymity.
Analysis
Why This Matters
The case demonstrates that cryptocurrency is increasingly subject to traditional law enforcement, challenging narratives about digital assets being beyond government reach.
Background
Tether, issuer of the world's largest stablecoin, has faced criticism over transparency but has emphasized its cooperation with authorities.
What to Watch
Whether this level of enforcement cooperation becomes standard across the crypto industry.