The U.S. Department of Justice revealed that Tether helped it recover $40,000 in cryptocurrencies from the Trump-Vance inauguration scam

PANews reported on July 3 that according to Cointelegraph, the U.S. Department of Justice recently recovered $40,300 worth of cryptocurrency in a political fundraising scam. The successful recovery was made possible by the assistance of stablecoin issuer Tether. The scammers impersonated officials of the Trump-Vance Inaugural Committee and sent emails using fake domain names to trick donors into transferring USDT stablecoins worth $250,300 on December 24, 2024. Two days later, the victims transferred the funds to a crypto wallet controlled by the scammers, and the funds were quickly transferred. The FBI tracked and froze some of the funds through blockchain analysis. It is worth mentioning that this is the second time Tether has assisted law enforcement agencies recently. In June, it assisted in freezing $225 million in USDT involved in the "pig killing" scam.