Tether Works With US Justice Department to Seize $52 Million in Crypto Tied to Chinese Fraud Network

Tether said on Saturday, September 12, 2026 (21 Shahrivar 1405), that it worked closely with the US Department of Justice to seize and freeze more than 52 million dollars in crypto tied to the Chinese fraud network Xinbi Guarantee. According to Arzdigital, the action froze two wallets holding about 12 million dollars and ordered 47 other addresses blocked over suspected involvement in money laundering.

Per the report, the Xinbi platform served as a marketplace connecting cybercriminals, fake investment operators, and human trafficking networks. Tether CEO Paolo Ardoino said in a statement that the company has worked with more than 340 law enforcement agencies across 67 countries and has stopped more than 5 billion dollars in illicit assets to date.