Tether Assists Canada Police in Crypto Recovery, Broadens Ventures

Tether recently collaborated with the Ontario Provincial Police (OPP) to help recover approximately $10,000 CAD in stolen cryptocurrency, reinforcing its role as a key partner to law enforcement in the fight against cybercrime.

The recovery was made possible through the efforts of Tether’s team and the OPP Cyber Investigations Team. By freezing the Tether (USDT) assets involved, Tether facilitated the return of funds to their rightful owner. Detective Staff Sergeant Addison Hunter of the OPP acknowledged Tether’s swift cooperation as a crucial factor in the recovery process, according to a press release from Tether.

Tether has positioned itself as a significant ally to global law enforcement, claiming to have assisted over 195 law enforcement agencies in 48 countries with similar investigations and asset recovery efforts.

In a move further expanding its interests beyond cryptocurrency, Tether announced on November 8 its first investment in the Middle East’s crude oil sector, marking a strategic diversification into traditional commodities.

Meanwhile, Tether faces regulatory scrutiny in the United States, where recent media reports suggested that Manhattan prosecutors were investigating potential violations of anti-money laundering and sanctions laws. The U.S. Treasury Department is also reportedly considering sanctions that could restrict American business engagements with Tether. Tether CEO Paolo Ardoino dismissed these reports on social media platform X, calling them “old noise” and reiterating that there is no indication of an active investigation.

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