Tether helped local Thai police and US authorities recover $12 million in USDT. The funds are linked to cross-border fraud operating across Southeast Asia.
Tether, the cryptocurrency industry’s largest stablecoin issuer, announced that it has participated in a recovery process with authorities, resulting in the seizure and recovery of USDT worth $12 million.
The company said it was part of a joint operation between the Royal Thai Police and the U.S. Secret Intelligence Service, and that the funds were traced back to cross-border fraud across Southeast Asia.
Tether assists authorities in arresting 73 suspects related to crypto crimes
Tether assists Royal Thai Police and US intelligence agencies in tracking and seizing $12 million from cross-border fraud network
Details: https://t.co/WpdBvMVC1d— Tether (@Tether_to) November 13, 2025
The announcement said Thailand’s Technology Crime Suppression Department (TCSD) under the Ministry of Digital Economy and Society (DES) is spearheading the recovery process as part of broader efforts to combat money laundering, online fraud and crypto fraud.
The stablecoin giant highlighted that authorities involved in the investigation arrested 73 suspects, including 22 foreigners and 51 Thais, and seized crypto assets worth more than 522 million baht.
Commenting on the joint effort, Tether CEO Paolo Ardoino said the cryptocurrency company is committed to supporting authorities and law enforcement globally to freeze illegal assets, protect victims, and ensure USDT transparency benefits global commerce.
“This operation highlights how blockchain transparency can enable law enforcement to act quickly and effectively against criminal activity…”
–Paolo ArdoinoCEO of Tether
Tether also highlighted that it is actively working with law enforcement agencies around the world to facilitate investigations, resulting in multiple seizures of illicit proceeds in various jurisdictions. The company highlighted that the US Department of Justice (DOJ) recognized the company’s contribution and efforts in a major enforcement operation that recovered approximately $225 million USDT in June.
The company also noted that it assisted U.S. authorities, including the U.S. Secret Intelligence Service, in freezing $23 million in illicit funds related to trading on the Russian-licensed exchange Galantex. Tether also said it helped authorities freeze an additional $9 million related to the Bybit hack.
According to Tether’s official news reportthe company has blocked more than 3,660 wallets in joint efforts with law enforcement, including 2,100 in collaboration with U.S. government agencies. Tether added that its participation in the Royal Thai Police’s operations will contribute to its continued objective of supporting international law enforcement agencies in combating financial crimes involving various crypto assets such as stablecoins.
Tether said it has worked with 290 law enforcement agencies across 59 different jurisdictions to freeze more than $3 billion in cryptocurrency assets believed to be derived from illegal activity.
Thailand strengthens crackdown on virtual currency fraud
The Thai government too recognized The crackdown was in line with national challenges regarding virtual currency fraud, fraud, and money laundering.
Thai Prime Minister Anutin Charnvirakul announced the results of the cybercrime suppression operation at a press conference held on November 10 under the theme of “Thailand Unity Against Scammers”. Government officials said local police seized digital assets worth 14 million baht (about $432,000) from foreigners and the victims were reimbursed.
The prime minister also said authorities had arrested former Cambodian senator Lee Yong Huat’s network for allegedly being involved in money laundering related to online fraud. The news reported that 400 million baht (approximately US$12 million) was recovered in the operation.
Mr. Charnvirakul emphasized the importance of ensuring public safety by providing information to members and educating them with the appropriate knowledge to protect themselves from cyber-related crimes.
This news follows Cryptopolitan report The report announced on November 13 that U.S. authorities, including the U.S. Department of Justice (DOJ), FBI, and Secret Service, have established a new interagency enforcement task force to combat cryptocurrency-related fraud and investment schemes run by Chinese transnational criminal organizations targeting unsuspecting U.S. citizens.
U.S. Attorney Jeanine Pirro said Americans have suffered losses of more than $9 billion, and estimates are that the actual figure is even higher due to underreporting. Pirro explained that the scams are socially engineered using online platforms, text messages and social media. The lawyer said the scammers solicited their victims by encouraging them to invest in “legitimate” cryptocurrency projects, which turned out to be fraudulent.
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