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Trends and Insights

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16 Jan 2024

Tether Has Become The Favorite Crypto Token of Money Launderers

The UN reports that Tether, one of the world’s largest stablecoin, [is implicated]( in scams like 'pig butchering,' which manipulate victims into transferring funds through engineered romance plots. This method is prevalent among fraudsters and money launderers in southeast Asia. and has become a [$1 billion dollar scam]( Tether's stablecoin USDT is increasingly being used in sophisticated, high-speed money laundering operations, particularly [through online gambling platforms](