Federal prosecutors in Connecticut recovered over $600,000 in tether (USDT) stolen through a phishing scam that used a fake physical letter to trick a Ledger hardware wallet user into revealing their recovery phrase. The scam victim received a letter pretending to be from "Ledger Security and Compliance," which led to the theft of their crypto assets. Investigators traced the stolen funds via blockchain analytics despite attempts to obscure the trail by converting the assets to USDT and moving them through multiple wallets. The U.S. District Court ordered the forfeiture of the funds to the government, and the recovered USDT will be returned to the victim. This case highlights the use of blockchain technology in recovering stolen crypto and the ongoing risk of phishing scams targeting hardware wallet users.
Circle won a court-backed arbitration ruling confirming it lawfully suspended Heka Funds' USDC minting and redemption services due to undisclosed ties to Tether and suspected market manipulation. Heka failed to disclose Tether as its main investor, w...
Tether is shifting stablecoin use from crypto trading to everyday financial services by leading a $7 million investment in Pact Labs. The company aims to integrate its stablecoin USA₮ into payroll systems and real-time payments, addressing the $11 tr...
Pact Labs secured $7 million in a Series A funding round led by Tether to enhance its on-chain lending platform on the Aptos blockchain. The company operates the PACT Protocol, which has facilitated nearly $2 billion in loans and serves around 500,00...
Tether led a $7 million Series A funding round in Pact Labs to expand the use of its USA₮ stablecoin in payroll, payments, and lending through fintech partnerships. Pact Labs connects traditional fintech with blockchain liquidity, enabling over 500,0...
South Korean cryptocurrency exchange Upbit began trading the Derive (DRV) token on July 14, offering trading pairs with Korean won (KRW), Bitcoin (BTC), and Tether (USDT). This listing enhances DRV's exposure in one of Asia's largest crypto markets a...
