Tether, the largest company in the digital asset industry, has confirmed its involvement in a sweeping joint operation led by the Royal Thai Police and the United States Secret Service. The coordinated effort resulted in the seizure of approximately 12 million USDT, equal to about 400 million Thai baht, from a sophisticated scam network operating across Southeast Asia.
The operation was executed by Thailand’s Technology Crime Suppression Division (TCSD) under the Ministry of Digital Economy and Society, marking one of the country’s most significant digital-asset-related enforcement actions to date.
Dozens Arrested and Assets Seized
Authorities reported the arrest of 73 suspects, including 51 Thai nationals and 22 foreign nationals, during a series of targeted raids. In addition to the frozen USDT, police seized more than 522 million baht in property, electronics, financial accounts, and other assets linked to the criminal syndicate.
The network is believed to have run extensive online investment scams and money laundering schemes, exploiting digital currencies to rapidly move funds across borders.
Tether Highlights Blockchain Transparency
Tether CEO Paolo Ardoino said the case demonstrates how blockchain-based systems can support fast, cross-border law enforcement action.
He emphasized that the openness of public blockchains makes it possible for investigators to trace illicit activity much more efficiently than in traditional financial systems, enabling targeted freezes that prevent criminals from cashing out.
Growing Law-Enforcement Collaboration
The Thai operation adds to a long list of global enforcement actions supported by Tether over the past year. The company has assisted in major U.S. DOJ operations, including the seizure of $225 million in USDT connected to international fraud schemes. Earlier in the year, Tether worked with U.S. Secret Service investigators to freeze $23 million linked to Russia-sanctioned exchange Garantex and another $9 million related to the Bybit hack.
So far, Tether has helped block over 3,660 wallets, including 2,100 cases involving U.S. agencies, as part of its broader strategy to curb the misuse of digital assets.
Global Reach: 59 Jurisdictions and $3.2 Billion Frozen
In total, Tether has collaborated with more than 290 law enforcement agencies in 59 jurisdictions, assisting in the freezing of over $3.2 billion in digital assets associated with illicit activity.
This latest case in Thailand reinforces Tether’s shift toward a more structured and proactive compliance posture, positioning itself as a key partner for regulators and law enforcement bodies seeking to combat cybercrime and financial fraud.
Commitment to Transparency and Security
Tether says it will continue expanding its partnerships with international agencies, emphasizing transparency, rapid coordination, and advanced monitoring tools. The company maintains that protecting victims, preventing criminal abuse, and strengthening trust in the digital asset ecosystem remain core to its mission.