HomeCryptoTether Clamps Down on Cybercrime: Freezes $5.2 Million in USDT Linked to...

Tether Clamps Down on Cybercrime: Freezes $5.2 Million in USDT Linked to Online Scams

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Tether, one of the prominent names in the world of cryptocurrencies, has struck a significant blow against cybercrime by freezing a considerable sum of funds linked to fraudulent online activities. This decision not only reflects Tether’s commitment to the security and integrity of its stablecoin. But it also sends a clear message that it will not tolerate the abuse of its platform for illicit activities.

The detection of these criminal activities was made possible thanks to MistTrack, a crypto tracking platform operated by SlowMist, which alerted about suspicious activities.

Tether reportedly took immediate action, freezing USDT funds in 12 identified addresses. This action was confirmed by SlowMist’s chief security and information officer, known as 23pds. Who pointed out that Tether had effectively blocked the address used to launder money by a phishing gang.

Wisconsin State Investment Board Bets Big on Cryptocurrencies

The Wisconsin State Investment Board is making a lot of noise in the financial world. In their recent Tuesday 13F filing, they revealed that they have put a significant amount of money, almost $100 million, into the iShares Bitcoin Trust. Backed by spot bitcoins and managed by BlackRock.

This advertisement Not only is this surprising, but it also indicates a major shift in the way traditional financial institutions view cryptocurrencies. It appears that they are taking seriously the potential of these digital assets as part of a diversified and profitable investment strategy.

But that’s not all, the Board also detailed its investments in other key companies in the cryptocurrency world, such as Coinbase, Marathon Digital, Riot Platforms and MicroStrategy. This shows that they are betting not only on Bitcoin, but on the crypto ecosystem as a whole.

Cryptocurrency exchange giant Coinbase falters: major global outage for three hours

Coinbase, one of the most important cryptocurrency exchange platforms worldwide, experiment a significant interruption on May 14. Thus leaving users in suspense for three long hours. The outage, which began at 4:19 a.m. UTC, affected users around the world, causing concern and frustration among those who rely on the platform to transact and manage their digital assets.

The Coinbase team quickly took action to address the situation, announcing the outage globally and working tirelessly to resolve the underlying technical issues. Finally, at 7:34 am UTC, the platform managed to fully recover, as confirmed on its status page.

Despite the restoration of service, the reasons behind this massive outage remain unclear. Coinbase has assured its users that it will continue to fully investigate the issue to avoid future similar outages. And, guarantee the stability and reliability of its platform.

Biden bans Chinese cryptocurrency mining company near Wyoming nuclear missile base

US President Joe Biden has taken decisive action by signing an order prohibiting a Chinese-linked cryptocurrency mining company from continuing to use land near a nuclear missile base in Wyoming.

The order, announced by the White House on May 13, requires MineOne Cloud Computing Investment and its partners to divest from a property used as a cryptocurrency mining facility near Francis E. Warren Air Force Base in Cheyenne, Wyoming.

The top concern cited by Biden is national security. The president stated that there is credible evidence to suggest that MineOne Partners Limited, a British Virgin Islands company ultimately majority owned by Chinese nationals, could take actions that endanger the national security of the United States.

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