CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
The Coin Rise 2025-01-20 21:50:31

India Nabs Scammers Using USDT to Move Stolen Funds Abroad

A recent report from local media revealed that the Rajasthan state police in India have arrested cybercriminals involved in crypto scams. These individuals were arrested for using Tether’s stablecoin, USDT, to transfer stolen funds outside the country. Indian Local Criminals Liaise with International Cyber Gangs Several case investigations revealed that cyber gangs from other nations rely on local criminals in Rajasthan to convert money received from digital scams into crypto. Superintendent of Police Arshad Ali explained that the cryptocurrencies were sent to exchanges based in Dubai and France. As a result, Ali speculated that the masterminds behind the cyber scams are likely operating from these countries. According to the report, the local criminals converted approximately $115,546 into USDT. A senior police official said some criminals were arrested by district police and the Special Operations Group (SOG). How the Cyber Criminals Operate These online criminals usually get locals’ bank accounts, ATM cards, SIM cards, and cell phones. They eventually use these items to deposit illegal money into local crypto exchanges. Subsequently, they transfer the cryptocurrencies, particularly USDT, to international accounts, making the funds difficult to trace. The police recovered four mobile phones and eight SIM cards linked to crypto laundering activities from the suspects during a recent raid. Additionally, the SOG arrested 15 people on December 14 for related cyber crimes. Some provided direct bank accounts for stolen funds, while others were currency exchangers. The Growing Adoption of USDT for Criminal Activities Digital asset scammers worldwide have persistently used USDT for their illicit activities . These criminals prefer USDT due to its stability, liquidity, and pseudo-anonymity. Consequently, Tether has received criticism for facilitating illegal activities. In some cases, the firm has been accused of assisting in circumventing international sanctions. In May 2024, Tether partnered with Chainalysis to combat online fraud. Tether said it plans to leverage the partnership to develop a transaction monitoring platform to identify suspicious transactions and track secondary market activity. Tether Maintaining Relevance Despite recent security criticism and challenges, Tether has continued to show resilience in the blockchain space. Tether’s CEO Paolo Ardoino recently announced expansion plans in the US . However, he maintained that the move depends on the regulatory framework that emerged after Donald Trump’s inauguration. The post India Nabs Scammers Using USDT to Move Stolen Funds Abroad appeared first on TheCoinrise.com .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta