- Coinbase and federal authorities recovered $225M in stolen USDT.
- Tether collaborated by freezing and reissuing the assets.
- Largest “pig butchering” scam recovery in the US.
The enforcement highlights increased cooperation between cryptocurrency platforms and law enforcement, emphasizing the commitment to combating large-scale crypto frauds.
The operation involved Coinbase’s compliance and threat-intelligence teams working with the U.S. Secret Service and FBI. Tether also played a crucial role by freezing and reissuing the seized USDT.
“Coinbase’s threat-intelligence team ‘worked shoulder-to-shoulder’ with agents for four months, tracing outbound transfers from 130 customer accounts…” – Coinbase Blog, June 24, 2025
Businesses and government agencies encountered significant changes due to this seizure. The operation exemplifies strategic partnerships in recovering stolen cryptocurrency assets, marking a critical shift towards enhanced fraud prevention.
Financial implications include the reallocation of frozen USDT and compensation to affected victims. Politically, this marks a milestone in enforcing crypto asset recovery, emphasizing regulatory alignment.
The recovery could spark further cooperation in fraud prevention. Continued successes in such operations may boost market confidence and influence regulatory frameworks, promoting transparency and accountability.
