Tether Says DOJ Credited Its Assistance in $52 Million Xinbi Crypto Scam Crackdown
Tether said on Sept. 11 that the United States Department of Justice (DOJ) credited its proactive assistance in a major enforcement action that restrained more than $52 million in cryptocurrency tied to the Xinbi Guarantee marketplace, according to a statement the stablecoin issuer published. The acknowledgment came as the DOJ’s Scam Center Strike Force moved against what authorities describe as a Chinese-language marketplace that allegedly connected scam operators with vendors offering money laundering, fraudulent investment websites and the recruitment of trafficking victims.