Tether, the issuer of the USDT stablecoin, assisted the Canadian police in recovering 460,000 USDT that were lost due to a fraudulent investment scheme in Ontario. The victim of the scheme was a local resident, and the funds were classified as proceeds of criminal activity.
This is reported by Business • Media
Collaboration Between Law Enforcement and Tether
On July 3, 2025, the Federal Police’s RCMP Virtual Assets Crime Operations team executed a special warrant for digital assets and seized 460,000 USDT (equivalent to approximately 640,000 Canadian dollars). The police statement emphasized that the operational collaboration with Tether enabled the effective blocking of the illegally obtained funds.
“Tether’s ability to quickly freeze illegal funds has made the company a reliable ally for law enforcement agencies worldwide. We are proud to have assisted the RCMP in this case and remain committed to protecting the integrity of the global financial system,” said Tether CEO Paolo Ardoino.
The Scale of the Fight Against Crypto Crime
Sergeant Ryan Berry from the RCMP highlighted that the timeliness of investigations into stolen cryptocurrency cases plays a crucial role, as quickly tracing transactions significantly increases the chances of recovering funds. He also noted that collaboration with the private sector, particularly with Tether, was key to this successful seizure.
In the past 12 months, Tether has frozen over 3.2 billion USDT, engaging with more than 290 law enforcement agencies in 59 countries around the world. The company is actively involved in high-profile international investigations, including supporting the U.S. Department of Justice in blocking 225 million dollars, assisting the U.S. Secret Service in freezing 23 million dollars related to the Garantex exchange, and facilitating the seizure of 1.6 million dollars linked to terrorist activities in the Gaza Strip.
Additionally, at the request of Israeli authorities, Tether can freeze funds from 187 crypto addresses belonging to Iran. Thus, the company reaffirms its readiness to cooperate with law enforcement to combat financial crimes in the cryptocurrency sector.